There was a TH in Belfast and the message delivered was that “Bora Bora is done, its over with. Congratulations, you made the cut. Now we will layoff a few here and there but Citi always layoff every year like that.”
Don’t buy into it. Its a smoke screen to have you believe all is well. They will lay off a few here and there alright but in small batches consistently. By the end of the year, the number let go will be huge.
Be on guard.
@1obc+1w3U18rL plenty of people were hired at big dollars at C15 & C16 levels and were cut in Bora Bora waves 1-4 some 2 years in and some not even that. Some folks hired 3rd quarter last year were cut in Jan/March waves. There is never a guarantee.
They reduced 7k but brought in 10k by rehiring many, hiring entirely new teams, and opening their wallets for endless contractors. This bank is so good at math.
I confirm 7k down
But I don’t even want to know how many contractors were added to cleanup the mess it caused
I’ve recently joined a new team that was recently created. New director, svp and etc. is it okay to assume that I’m safe for the time being? I mean they wouldn’t have opened up this new team during such bumpy roads, right?
“So far in 2024, Citi’s employees have already had to cope with a workforce reduction of 7,000 employees; and over 20,000 further jobs are set to be cut by 2026.”
https://www.hrgrapevine.com/us/content/article/2024-12-19-citigroup-mds-question-controversial-approach-to-end-of-year-performance-reviews
This will be one of those posts like so many before that’s resurrected 6 or more months down the road with an “I told you so” and no one will be able to respond back with anything otherwise.
Hahah ok