As their pay is now reduced, the severance is now smaller as you have been adjusted lower. This is just one method they are coming up with to run people off at a much lower cost.
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It seems the saying, "go woke, go broke" doesn't apply to Jane. It seems oligarchs exist no matter who is in charge
@1oup+1vxHVuYU - Citi has been abusing their employees for many years, so why perceive a maga influence when this happened for the past 4 woke years. Perhaps you're suffering from tds?
Post ID: @2xsq+1vxHVuYU In what country is that permitted by law ? Not in the USA.
The only true transparency at Citi is the intentions that Citi management tries to hide.
@1wez+1vxHVuYU - If you are in a country where by law it is possible to cut wages, they'll do so.
Post from TheLayoff.com
Lots of nonsense here. No one’s salary is getting cut except maybe bonuses if you are releveled. Another poster is correct. The expected economic value of doing so is negative. Play is to try and humiliate people through releveling and potentially having a former direct report your boss. Will push many out the door which is the goal. I’ve got 18 month left till I call it a career. Not wort leaving voluntarily. If I drop a level so will my effort which is right now on cruise control.
To be clear the mechanism here for lowering comp would be through re leveling right?
That shouldn’t change bade salary but will certainly dramatically reduce bonuses
I’ve been here for a while and never heard of another way to “reduce salaries”
Unless your role is eliminated and you were offered a new role unde lower pay/ comp.
@1nbj+1vxHVuYU
Here’s the ebb and flow as I’ve seen it time and time again. Someone like you will shoot down this post verbally because it hits close to home as being true and\or because you’ve been assigned to.
Over time it unfolds exactly as the poster says. They comment on this post with “I told you so” and you’re no where to be found for a rebuttal.
The nuts factor on this forum is getting worse and worse. I wish I could get more real information but all I see is rampant speculation from people who probably are not even at Citi anymore or just rank outsiders. I call horse**it on this one simply because I can do basic risk reward math on a policy like this - it's peanuts to negative in expected value.
Cuts coming soon. Citi execs have no vision because wish that GenAI will save them. Pure corporate greed. Workers are just numbers. In a way Citi is implementing maga agenda by cutting low level workers and increasing bonuses at the top for execs. An oligarchy style economy.
A number of recent announcements have turned out to be accurate in this forum. This makes sense.
From watching this board for a while now, I find that about 70% of those about layoffs, time lines, management initiatives etc… turns out to be true which is a higher success rate than I’d like. I’d feel more better if most of these posts were wrong.
On this one, ask yourself, does it sound like something that Citi upper management would do? If you’ve been around for 5 years or more, then you already know the answer to that question.
That’s pretty specific. Are you speculating or have you heard this from a credible source?