For some people the current cuts will serve as a wake-up call. Due to the easy money that was printed in the past 15+y, many people had a pretty good ride without putting either the work or having the education needed. People like project managers... — read more 

I know upper management could care less but board really should give this site more than a passing glance. Some of its good, some bad, some fear mongering, some outright wrong and some outright true. I guess the challenge would be how would you... — read more 

If you’re let go, you are on the job hunt. If you are not, then you’ll be expected to pick up the slack for those that were let go, which means double the hours but certainly not double the pay. Your raise and bonus (if any) will be at the absolute... — read more 

Seriously, they have boiler plate layoff templates, so you don’t need HR for layoffs. They have automated processes that scrub resume’s, so you don’t need HR for that. They have HR chatbots to answer basic questions, so you don’t need HR for that... — read more 

Going to be bumpy.....

I need countries, levels (C13-15), and sub-divisions (credit, market, ops etc). Thanks.

https://www.cnn.com/2024/01/12/investing/citigroup-layoffs-earnings/index.html

Can anyone shed light on what the severance packages are looking like? I've heard from past layoffs that it was a couple months of pay (while possibly still working there) and then 2 weeks for each year worked (capped at 52 weeks). Is still... — read more 

There aren’t 20 thousand VPs and SVPs in the tech arena. Citi wants 24x7 coverage on all things tech but does not want to staff for it, so they run lean already. The true problem that they will run into is that: a.) The tech sector has a very... — read more 

Cant count how many "townhalls" and other "transparent" calls and zooms the question was asked since last Sept about what % of employees were getting cut. Every time the response was "there is no %". BS. It's 10% now and it was 10% all along. .. — read more 

The mentality of “bringing in the new and managing out the old” pertains more to management than the regular employees. You have the old guard in play with old guard thinking. We need leaders who can think outside the box, innovate, and that are... — read more 

https://www.reuters.com/business/finance/citigroup-sees-headcount-dropping-20000-by-2026-2024-01-12/ So will this negative layoff environment continue for 2 more years? If 20k layoffs by 2026, any idea the % next week vs next 2 years? For example... — read more 

If the plan is to announce 1/22, bad news will be shared privately next week.

Most SVP's will be eliminated. SVP's will be moved as Technical resources than Management resources.

Is Jan 22 the so called medium term? or sometime later?

"Citigroup on Friday posted a $1.8 billion fourth-quarter loss after booking several large charges tied to overseas risks, last year’s regional banking crisis and CEO Jane Fraser’s corporate overhaul." Smart corporate strategy paid off. So, the... — read more 

I think it’s most irritating they could not begin it any sooner, and do we take “medium term” to mean the trimming will go on until March 31…for years to come?

Well done, Jane!

I have lot of people from project management offices PMOs (sometimes same ones) reaching out regarding same items? They have taken me to a point where I am like so annoyed of this bureaucracy

Citi has no intention of becoming a better bank. They are cutting younger people and/or those with less years of service in order to save on severance while keeping the dinosaurs who have no innovation no degrees and no experience other than the same... — read more 

Where can I find the link for earnings call? Do not see it in the HUB. Can someone point me to it?

I'll tell you. They mean squat! They should be eliminated.

https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/citigroup-s-cfo-mark-mason-reclaims-spot-as-highest-paid-bank-cfo-in-2022-77211999

I feel like I am a 3, a valued contributor. I told my manager I disagreed with this rating. I felt my peers deserved it more. I am not a favorite here and don't understand why I received it. Manager disagrees with me. I have not shared my... — read more 

https://www.efinancialcareers.com/news/2024/01/citi-delayed-bonuses

15 months at Citi and awaiting to hear my fate. Sh-t su-ks a-s.

I am wondering, as a relatively new joiner, will HR take into account the full background/CV of the person when taking the decision to sack? Or only time spent at Citi?

If Pay cut is an option , are you willing to take it ? or leave Citi ?

With https://finance.yahoo.com/news/citigroup-report-780-million-restructuring-214823471.html Just a brainstorm of what to expect in coming days : More contractors to go More new joiners to go - minimal severance pays More low profiles to go -... — read more 

The fish rots from the head. https://www.cnbc.com/amp/2024/01/10/citigroup-risk-quarterly-loss-after-disclosing-charges.html

This last-minute earnings announcement/update is not good news, folks. Billions in extra expenses as we prepare for bonuses to be announced. I guess we’ll know soon enough, but I wonder if this $780M restructuring expense number is in addition to... — read more 

Trading Risk Control Middle Office Comms Most tech teams Payroll Banking Monitoring

Glad that I found this site. I am based in London, and this is the first time I have experienced this. Usually, I will receive calls from recruiters shortly after I set my LinkedIn profile to "open to work, actively searching". But I have been... — read more 

You gotta cut the people, sure, do your thing, why not but also cut HR. Throw them into the mix. We already have an HR chatbot, HR is removed. We already have a system that parses resume’s for key words, another thing that HR is removed from. ... — read more 

trying to udnerstand what 4, 4, 4 does. I asked my manager and he didnt even seem to know what the score does

This is the first company I see almost every employee is looking for new job at same time

Is it your manager or your manager's manager? H/r? How do they determine who gets what rating? I know a few who received 3s when I feel they should have received 2s. I know some who received 2s when I feel they should have received 3s. How is it... — read more 

I have never experienced this in other companies. I guess he just does not like me. I have good relationship with my stakeholders and other team members.

Since we're not being laid off based on merit, do yourself a favor and do the bare minimum until your time here is up. I think it's safe to say that the majority of us realize that Citi is not the best place to build your career, so there's no need... — read more