They did say …. In “November” So hasn’t been Monday nor Tuesday …. Tomorrow? What’s worse - tomorrow or day before thanksgiving

She will destroy and scale down everything else to save the IBD currently on life support even though the capital mkts arent going back to 2021 levels anytime soon. She came from IBD and is unwilling to face the fact that it is the IBD that needs to... — read more 

https://finance.yahoo.com/news/citigroup-discriminated-against-armenian-americans-145117988.html

Stuart Riley is Co-CIO , we just received an email that he is leaving the firm. Did he just leave or was he fired?

Do we know if there'll be any cuts?

That puts me at just over half a year here. This is the second major layoff in that period. Being one of the last ones to join, my stress levels are through the roof once again waiting to see what's going to happen. The worst thing is, I had other... — read more 

Updates?

Anyone knows if layoffs will be announced this week? If so, which day? I wonder if it would be a last min meeting or they’d schedule in advance?

You have to have a proven track record of leadership failure in order for the board to “do something about it”. Well, I believe we are on the cusp of that now. The pending layoffs are Janes last hail Mary attempt to try and reverse the damage.

Got an offer for Citi , pay is decent for a VP role. Is it advisable to join CITI now . I am concerned with all the layoff talks and trying to gauge if its good to take a chance ? Any advise please

“If you were a manager, would you want to be handed what organisation you get or would you want a say in the structure?” asks Citi’s chief human resources officer Sara Wechter. Her view is supported by some workplace experts, who say that a... — read more 

No more industry heads and coneheads, that is the word. The title has lost its meaning at Citi due to the sheer abundance of these roles.

Any groups you’ve seen have no work/nothing to do…as a result of the restructuring? ICG or PBWM

Who thought this long drawn out process would be a good idea? Plain Jane? This is absolutely incredible. I am assuming it was leaked and threw a monkey wrench in their plan, otherwise this is bottom barrel management.

Heard next Monday is the day for the higher up Minions will be slashed in Jan

https://www.bankingdive.com/news/citi-job-cuts-major-units-10-percent-Jane-Fraser-reorganization/698897/

Any idea when the layoffs would be announced? I am hearing from some that it’s Nov 15th (wednesday next week) and from others Nov 20th (monday of the Thanksgiving week)

Wells Fargo has cut 40,000 jobs in the past three years, and according to this article, they show no signs of stopping. Citibank, on the other hand, is in a much worse position efficiency-wise, and the company has been struggling for over a decade. I... — read more 

Does anybody know why we got paid on Thursday rather than Friday? Is that a sign of upcoming layoffs?

I know many are planning to leave, but I was wondering where you are hoping to move to. What are the best alternatives to Citi? I've been looking around and honestly, I can't find any much better place, especially when it comes to layoffs. They seem... — read more 

Curious if there would be a notice period for those who will be laid off in Nov? If so, how long? 45 days or more?

Likely layoffs next 2 weeks More layoffs 2nd/3rd week Dec More layoffs mid January Layoffs in Feb, Mar, Apr Done by May w/ 12-15% reduction Stock price down and stuck Low productivity and low morale thru out 2024 Jane... — read more 

So Citi “tries” to meet the market standard when it comes to salary for top talent. They are at best low to average in that area. Then later, they decide to layoff or run off people for whatever reason. Often times they run off people making the... — read more 

I'd rather know today if I'm losing my job than speculate and worry for the next few weeks or months. This is going to be a true nightmare.

Does anyone know if Citi gives 90 days non-working notice to employees being laid off in NY? If so, can I claim I’m still employed while applying for other jobs within those 90 days? If I land smth and the new employer does a background check before... — read more 

I heard the executive “leadership” team is going to Bora Bora after the org change.

The Layoffs will happen in January citing Performance as reason and NO Pay raises. People will be tempted to move themselves to save Severance cost.

I was offered a job recently. What are the chances of the offer being rescinded?

The stock price is down 40% since she’s been in office. Citi went on a hiring spree under Jane’s direction. Now its deemed that we have too many people. JPM has more employees but has a much better return on the stock price, balance sheet and brand... — read more 

Why is the first time I'm hearing about it through the news?

Has anyone had their annual performance meetings yet with their manager? I'm getting concerned as mine hasn't happened yet. Shouldn't it be before Thanksgiving?

If you are over 50, your chances of being laid off are automatically higher. This has nothing to do with age discrimination or anything like that. The fact is, the longer you've been here, the more you make. And when the goal is to cut costs, those... — read more 

For people who have been laid off from Citi, what sort of severance package did you get? Did you get severance pay, and if so how many weeks' salary per year of service did you get? How about health benefits, are those immediately cut off or can you... — read more 

Anyone knows/heard how they’re determining who would be let go? Are managers of each team giving their suggestion on who should be cut from their team? Does it get to that level? Or is this being determined at a much higher level by senior management... — read more 

QA teams and organizations are going to be heavily affected. Developers to take care of QA during coding

Heard from insider. If you have H1B visa you should be safe. Reason being that people on visa will have to leave the country if they can't find another job in 90 days. Company si trying their best not to destroy people's lives.

https://www.thelayoff.com/post/@OP+1psQ2Lmb

This is now getting ridiculous. I refuse to stay at a place where I have to worry about layoffs 24/7/365. Enough is enough.

Around 10% is being considered according to; https://www.cnbc.com/amp/2023/11/06/citigroup-considers-deep-job-cuts-project-bora-bora.html

I don’t think there’s a word invented yet to express how little they care about the emotional, mental, psychological effect a layoff may have on anyone before, during or after the holidays. Don’t kid yourself by thinking that they do. You can... — read more