Truist Financial Corp Disclosed $750M Gross Cost Save Program, Sizable Reductions In Force 3Q23-1Q24, Organizational Alignment And Simplification Underway, Expense Growth Rate In 2024 Will Be Significantly YoY
Portfolio Pulse from Benzinga Newsdesk
Truist Financial Corp has announced a $750M gross cost save program, with significant reductions in force planned for 3Q23-1Q24. The company is also undergoing organizational alignment and simplification. The expense growth rate in 2024 is expected to be significantly lower year-on-year.
September 11, 2023 | 11:20 am
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Truist Financial Corp's cost save program and workforce reductions could lead to improved financial performance, potentially boosting the company's stock price.
The cost save program and workforce reductions announced by Truist Financial Corp are significant steps towards improving the company's financial performance. These measures could lead to lower expenses and higher profitability, which could in turn boost the company's stock price.
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