Atlanta-based SunTrust Banks said on Friday it is farming out the management and maintenance of its office space and branch network in a move that will affect about 50 jobs in Atlanta, Orlando and Richmond.
The largest bank by deposits in metro Atlanta said Lincoln Harris CSG has been awarded the contract for facilities maintenance, engineering and landscaping for SunTrust office and operations space, as well as its ATM network. Lincoln Harris, which is replacing another outside operator.
Separately, Cassidy Turley, is taking on transaction and project management services and planning roles for SunTrust's 1,600-plus branch network and offices, which totals 14 million square feet of space.
The changes are part of a SunTrust expense cutting program that is targeting $300 million in annual savings and revenue growth. The program has resulted in a trimming on the company's headcount in branches and in back office functions.
Hugh Suhr, a SunTrust spokesman, said 50 jobs will be affected, though about half of those individuals are being offered employment with Cassidy Turley, and the other half can apply for open positions within the bank.
