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

You thought it was 20k? That's just this year. https://fortune.com/2024/01/12/citigroup-20000-job-cuts-jane-fraser-layoffs-1-billion-charge/

can someone throw light on SVP yearly bonus (in terms of %) in the TTS org?

Who actually decides your bonus, which stakeholders are involved?

Anyone Hear Anything?

Just because you received comps and just because got a promotion, don’t think you are safe on round 1 of a layoff. Its a strategy. Its nothing to give a promotion or comps to keep you here, working hard to pick up the slack for those they let go... — read more 

Realistically my job workload is like an 11-12 hour load, and I've seen people on the team do that. I've tried to keep it at 8, working non-stop, but I know I'm seen as a low performer and someone that does not go above and beyond but does the bare... — read more 

Morale seems low. Used to be a low cost location with low level of senior managers - is it still considered the same?

All companies that are laying off should report to state DOL but o don’t see anything for Citibank in New York, NJ or Texas https://dol.ny.gov/2023-warn-notices

I am hearing about various meetings happening right now. Not sure if they’re still deciding on who will be chopped for this January round of layoffs or that’s already been decided?

Hearing layoffs from all LOBS in the business but nothing related to Compliance ACRM? Any News?

https://www.bloomberg.com/news/articles/2024-01-18/three-citigroup-equities-trading-executives-are-leaving-as-the-bank-restructures

Lots of telecommuters due to site closures. Citi has made it abundantly clear that despite closing sites and leaving people with no site to report to, there is a zero-exception process to move within the company. Meaning, they do not want remote... — read more 

Jane broke down the 20,000 layoffs as follows: 5,000 managers by end of Q1 5,000 from getting out of certain businesses (muni's as example...more to come) 10,000 from O&T from efficiencies by the end of 2026

Technology teams in Irving and Tampa appear safe. Have not heard of any. Normal merit increases and bonuses

Are directors (c15) involved in the lay off discussion? If not who is the decision made by

My director told me they don't know whether I would be laid off or not because the decision is not based on them. Was told announcements will go out next week. What about employees with a low performance rating? Will they be impacted?

Jane is clearly out of her depth. She had\has no vision. She was counting on the woke mentality to turn a profit and it did not work. As one poster put it: DEI (diversity, equality and inclusion) is great but its not a huge selling point. The... — read more 

Job cuts accelerating this week. In NAM all RMMs cut, extra business managers were culled, some bankers cut here and there, a lot of people in CIM and in investments, people cut in RRE, the hub lost its main talent but no one in senior leadership per... — read more 

I haven’t heard anything yet.. does it mean we are safe?

Started today but most is tomorrow. 15% going. SVP next. D and MD People being told either safe or gone during comp discussion.

Anyone heard about staff notified in NY area? If so, which department and level?

Many people out there put in very long hours, sacrificed weekend and for nothing as shown by the bonus and raises you’ll not be getting. Yes, decision makers who got us to this point will get theirs but not you, no certainly not you. Oh sure, you... — read more 

Let's use this thread to report any layoffs you may've heard off/will be hearing in the coning weeks @TTS

https://www.tiktok.com/t/ZPRcnCFdK/

Are there more than one promotion cycle at Citi (other than the Jan one)? Is my manager lying when he is saying that if I missed the promotion this Jan I will have to wait until the next one? Because I can see people being promoted mid-year as well... — read more 

How many promotions cycles are there at Citi per year? In normal banks, there is only one (usually December/January) for everyone below MD, and a separate round in the spring for MDs. But at Citi I noticed people getting promoted off-cycle/throughout... — read more 

What does STL mean? And in general, why do everyone at Citi use non-standard abbreviations in casual conversations as if other people should know what they mean? Also, please use NA, there is no such thing as NAM region anywhere else in the corporate... — read more 

It's happening.Just received my new comp and bonus. you should be receiving yours too. 2% increase in salary and 3% of salary in bonus. ratings were 3 and 2

How is that even possible? How can the ELT sleep at night knowing they plan to ruin 20K lives - plus their families' lives? This is so excessive that I have no words for it. Everybody who was involved in this decision should feel ashamed of... — read more 

It has begun

I have no other explanation for why this is being handled so poorly.

Hi, Does the layoff announcements include your director and HR? Or is it your director alone?