Truist cutting dozens of jobs as it exits segments of business

CHARLOTTE — Truist Financial Corp. is cutting 80 employees in its Atlanta and Memphis, Tennessee, offices following plans to exit certain segments of business, sources familiar with the matter told Bloomberg.

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The Charlotte-based bank plans to exit sales and trading of mortgage-backed securities, Small Business Administration and government agency bonds, and supported services, Brian Boudreaux, a Truist spokesperson, confirmed to CBJ. Truist did not comment on the headcount reduction.

“Truist Securities regularly assesses opportunities for our organization and makes adjustments to our business to invest in areas for growth,” the bank said in a statement by email. “We made the decision to exit certain aspects of our fixed income sales, research, and trading business by January 2024, and will work closely with our clients to support them during this transition.”

Truist cutting dozens of jobs as it exits segments of business

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