You know those shows that end every episode with a cliffhanger even though everybody has figured out how the overall storyline is going to end within the first episode? The ones where they keep dragging out the obvious with the same suspenseful... — read more 

This is the week it is supposed to start. So what else do we know other than that and the number? Will it end this week or will they drag this out for weeks or even months? While I'm hoping it will be a "rip the band-aid off" kind of a situation, I'm... — read more 

If I get laid off hence on WARN period, and during warn period, I magically get an offer, do I say I got laid off or I’m leaving for better opportunity. Because technically during warn period, we are actually an “active” employee, correct?

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Countdown begins. let's please keep each othersinformed about how things are panning out in your orgs E.g. Business: Wealth Job function: Tech Leve: C15 # layoff# : X

M or T

Layoffs will be happening soon & the higher ups don’t care about the staff, they need to please the shareholders. Wake up folks. Retail Banking is as bad as working at Walmart Or McDonalds.

If someone offers you a job that pays more, you'll do what's best for you and leave your currently employment. If you have no loyalty to the company, why do you expect the company to not lay off people when it is best for the company?

To me the point is, is that if nothing changes on a management decision making level, we will continuously be at this juncture. We are “here” due to poor decision making by those who reside protected in their ivory tower. The risk is one sided for... — read more 

I am in a growing business at Citi. I am looking forward to next week so we can finally learn about the new structure and get on with it. I love my team and manager and we get support from the broader business. There will always be frustrated... — read more 

It seems like everyone at Citi is thinking that it is only Citi that is doing these type of restructurings. Everyone in the industry is doing it - it is just not that public and also not so many people at the same time. It is better to prune the tree... — read more 

New to Citi - this is my first full year bonus season. I always thought large US banks pay similar bonuses across functions, but it seems like Citi has lower bonuses - is that the case? Can other people with experience outside Citi confirm or deny?

Clearly it is not her to blame. https://www.reuters.com/business/finance/warren-buffett-tells-citigroup-ceo-fraser-keep-going-with-overhaul-source-2024-01-20/

I'm curious to see who has been demoted as part of the restructuring.

Was told getting bonus and comp increase but verbally only

How many layers will be impacted on Monday? Just EMT-4 or even later below that?

Hoping there is good news in aml in tampa and ny…

Will loan ops be affected?

Got the news yesterday. Last day is 1/31. I'm part of Wealth and about half the team has been wiped out. Doesn't really seem to be a pattern/reason as to why certain people were selected to stay vs get let go. I guess McKinsey logic.

I know during November layoffs MDs who were impacted were notified a week before the official announcement went out

Any O&T updates across the regions? Are these teams safe if in strategic locations?

Has anyone or known anyone who were made redundant recently in the UK? What is the severance package? Would be great to have some information ahead of the announcement.

I have heard of colleagues being laid off on retail, ICG and private bank. Many of them top performers. Yet nothing on Risk. There’s an odd calm, very few if any meetings O/R teams. Has anyone heard what’s the fate of risk analysts and officers? Most... — read more 

I have a 6 month contract in Risk Dept in NYC. What are the chances of my contract being renewed? I'm sure they save lots of money on payroll taxes, and benefits....

Moving forward Managers will be in Tremendous pressure for the following Reduce Cost No more Contractors Leverage AI and latest technologies Squeeze employees to get things done Generate Revenue I am sure that surviving managers and... — read more 

Both IT and Banking markets are in Layoff mode. Google, Apple, Microsoft and Facebook are planning to announce another rounds of layoff's around mid february and march. So we must target middle level companies. A second tier bank should do good... — read more 

https://nypost.com/2024/01/18/business/citigroup-ceo-jane-fraser-begins-plan-to-ax-20000-jobs-after-dismal-q4-sources/ Some managers were told their positions would no longer exist as of Feb. 1, two of the four sources said. More details about the... — read more 

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In these circumstances do ppl even get / can count on promotions? Besides scrarce, yet still new MDs were announced back in Dec, but are lower levels gettin promotions or all is suspended?

"Goldman Sachs, JPMorgan Chase, and Morgan Stanley are seeking artificial intelligence for analyzing securities, and investments and predicting stock prices and... — read more 

During the interview Director mentioned that there would not be any layoffs in the team that she manage.

VP, I got 3s across the board No bonus and 1.5% raise. How worried should I be about layoffs?