Thread regarding Citigroup Inc. / Citibank / Citi layoffs

The Regulators are ready to downgrade Citizombiebank.

Others have already posted that we all know most Citi employees are searching for a new job. What I define as most is over 50%, and this could be as high as 90% of Citi employees. The main difference between the current employees and Laidoff employees is that the former are basically just cashing Citi's paychecks, and are on auto-pilot doing the bare minimum work and Not going above and beyond the minimum because what's the point ??? The latter type of employees, the Laidoff employees No longer have Citi's paychecks to cash, except maybe for their 90-Day WARN money and severance which will run out in at most 12 months depending on number of years of service.

Ace of Base Song: I Saw The Sign It's Time to Quit My Job

https://www.yahoo.com/lifestyle/abandon-ship-immediately-people-sharing-161602434.html

What I meant by Skilling Up and then using and giving those skills to my new External (NOT Citi) Employer, is NOT doing the Useless BULLSH!T Citi Degreed or LMS Learning Management System training/courses. Obtain Skills and training on your own, outside of Citi. There are thousands of online and in-person training programs through numerous legitimate colleges and universities (NOT the scams For Profit ones).

Post ID: @1xani+1qvwCb1l You need to Calm Down and take the F-kitol medication in the F-kitol Coffee Mug from Amazon. According to Amazon the F-kitol instructions and side effects are:
Take as needed 500 mg to deal with everyday Citi BullSh!t
Medication is dispensed as a liquid with notes of sarcasm and Fvckery
Take with food Before dealing with Citi people
Can be taken with Alcohol
Can cause a sense of freedom from Id!ocy
Prescription Dispensed By: IDGAF Pharmacy (I Don't Give a Fvck Pharmacy)

Only an ID!OT (Citi HR, Legal Dept, Exec "Management") who are high on CR@CK Infused CitiKoolaid believes that going and doing above and beyond the bare minimum work at Citi leads to growth, advancement and higher salaries in Citi.

Post ID: @1xcbx+1qvwCb1l In Citi, doing more than just enough or going above and beyond is absolutely NO guarantee that you will grow and advance due to the forced Ratings Curve and Ratings downgrades to 3. Doing more than enough only means you're the Svcker for believing Citi that you will grow and advance in Citi. In other Real Banks, Yes, but NOT in Citi. Since Citi forced/placed Rating 1 and 2 employees like me under the bell Curve of Rating 3 when I actually deserved 1s and 2s, that's exactly what I'm giving Citi....An Average Employee who clocks out after 8 or 9 hours per day, takes a full Lunch hour and coffee breaks NO matter if there are emergencies. FVCK IT ALL & TO H3LL WITH CITITITANIC !!!

Do just enough and watch others grow.

Post ID: @5dhf+1ritECny Google JPMorgan Chase The Art of Writing A Farewell Letter. ROTFLMFAO !

http://theclosetentrepreneur.com/the-art-of-writing-a-farewell-letter

Post ID: @Snbw+1qvwCb1l

Post ID: @1uzsf+1qvwCb1l Thank you for this. Yes. Agree. Because of Citi's Braindead forced Ratings Curve of my Ratings 1 and 2 down to a 3, I've been giving Citi exactly what they want.......a Rating 3 employee. I clock out after 8 or 9 hours if I take a full lunch hour for myself. I ignore emails, emergencies, the house on fire, phone messages etc. after and outside of these basic hours. I literally ROTFLMFAO when I see all of the panicked, emergency emails and MSTeams text messages the next day when I log back in. My philosophy is, if Citi Rates me a 3 when Citi downgraded my Rating 1's and 2's AND did NOT Promote me, then that's what Citi will get. I do NOT GIVE A FLYING FVCK ANYMORE!!! If my Managers and Co-workers can Not get in their questions, requests, problems etc. during those 8 hours, Tough SH!T ! If projects, assignments, or tasks are late and Executive Management/C-Suite receive late or delayed work, I do NOT GIVE A FLYING FVCK ANYMORE!!!

Yes Do the bare minimum until your time is up at Citi, whether you get Laidoff first or find a new external job first. Clock out after 8 maybe 9 hours and do Not do any additional work. Let the Psycho Show unfold as you watch the next day when you log back in, Emergencies, the house burning down, late projects happenning. LOL! Actions speak louder than words. At the very least, some of your Managers and most of your co-workers will get the message. Ignorance is bliss. If you're Not aware of emails or messages, you will Not know to act or react. I am personally seeing this happen in my department. If Citi wants an average employee AND Citi does, then they'll get an average employee.

Citi is where you go to end your career and die. If you’re young don’t even bother unless you really need the job. Come back when you’re older and looking to relax and not learn anything new or of value. I hate this place more and more everyday. Im just waiting to either get the boot or until something better comes along. I REGRET leaving my last company for this place by Anonymous Post ID: @1mnq+1rr5Aruq

Post ID: @5dhf+1ritECny Google JPMorgan Chase The Art of Writing A Farewell Letter. ROTFLMFAO ! http://theclosetentrepreneur.com/the-art-of-writing-a-farewell-letter

Most employees are also Stvpid and Foolish. Vacation Days are salary. The employees will let expire unused Vacation Days after carrying forward from the previous year onto the current year. If you do not use ALL of your carried forward vacation days by March 31 according to Citi (some companies let you carry them forward after 1Q, up to end of 2Q etc.), you lose those carried forward vacation days. Citi and other employers will Not pay you cash in lieu of the vacation days and also whether or not you carried them forward. As an example, let's say you accrue one vacation day per month or 12 months in one year. You used 6 vacation days within the first 4 months of the year and by the end of April. On June 1, you quit Citi and start a new external job. During your garden leave in May, Citi will claw back from your Paycheck 2 Vacation Days worth of salary, and Not pay you for 2 vacation/working days worth. Employees who let vacation days expire are Stvpidly giving money back to Citi. Citi and other employers will certainly take back their money, and so employees Must take their allotted vacation days, even if this means you need to take All 10 vacation days in March. Citi allows for maximum 10 vacation days to be carried forward onto the next year to be used until March 31.

https://www.yahoo.com/finance/news/corporate-america-wants-fail-anti-131900556.html
'Corporate America wants you to fail': This 'anti-career' coach explains why young Americans are dismissing the value of hard work. Is she right?
Sabina Wex Tue, February 13, 2024 at 8:19 AM EST·3 min read

'Corporate America wants you to fail': This 'anti-career' coach explains why young Americans are dismissing the value of hard work. Is she right?
Scores of young Americans who popularized the “quiet quitting” movement have asked themselves this question: if my employer won’t invest in me, why should I invest in my employer?
Danielle Roberts, who labels herself as an “anti-career” coach, explains why some millennials and Gen Z have clocked out of corporate culture in a TikTok video posted Jan. 21.
Roberts begins by saying she has evidence “corporate America wants you to fail.” She claims that two of her clients — both of whom were responsible for employee performance reviews — were told by their superiors that too many of their staff received top marks. Only one or two employees were permitted to get high scores.
Even when you can show that you exceeded expectations, “corporate America is still, like, ‘No, you didn’t,’” she said. “There is no incentive for hard work.”
No financial incentive
The federal minimum wage hasn’t kept pace with inflation, and an analysis shows a growing gap between productivity and compensation.
In 1980, the federal minimum hourly wage was $3.10. Today, it sits at $7.25. Adjusting for inflation, to reach the same purchasing power as over 40 years ago, the minimum wage would have to be around $12.22 an hour.
Meanwhile, productivity from 1979-2022 grew at more than four times the rate of compensation (64.7% vs 14.8%) for typical workers, according to the Economic Policy Institute.
If hard work doesn’t necessarily pay off, and it’s a struggle to afford basic goods, young people may not feel the extra effort is worth it.
Read more: Thanks to Jeff Bezos, you can now cash in on prime real estate — without the headache of being a landlord. Here's how
Lack of stability
In the eyes of many young Americans, corporations are not seen as safe havens of steady employment. Layoffs are rampant across tech and media, and college graduates struggle to acquire jobs in their field.
Some young workers have become so disillusioned that they even post recordings online of themselves being laid off.
They want to see more from their employers — especially if they can’t count on them for a job anymore.
Quiet quitting response
Despite an apparent lack of desire to get ahead in corporate America, workers still live in a world where they need to pay for things and therefore keep their jobs.
This gave rise to quiet quitting during the pandemic. It’s a term that means doing the bare minimum at work rather than hustling to go above and beyond.
Roberts mentions the trend in her video, saying that young people get “flack” for quiet quitting in spite of the limited rewards of working hard.
Gallup’s 2023 State of the Global Workplace report shows that nearly 6-in-10 employees are quiet quitting. It’s a sign this trend of disengagement at work hasn’t gone away.

Citi is a dying dog with 5 kinds of Cancer that needs to get Sh0t. Citi has so many problems, dysfunctions about everything, operations, low revenue, non-profitability, people, culture, technology, processes, policies, low stock price, everything. Pieces/businesses of Citi are being sold every week. If Citi were a dog or a horse Citi would have already been put out of its misery so that the world and the employees can finally just move on with their lives ! It's the next Republic Bank, Silicon Valley Bank, Credit Suisse, Lehman Brothers, Bear Stearns, etc.. Citi is staring the grim reaper/bankruptcy in the face

Divorcing celebrities have said that you get to know who and what the real person is during a break up or divorce. In other words, you do Not truly know a person until there's a break up or divorce. This is true in any relationship including your relationship with your Employer. Some of us were reshuffled and the previous C16 told us what he thought and how he really felt about certain problems, issues and members of our team. Prior to the reshuffling or layoffs, he did spin control and only painted rosy pictures of every situation and everyone. About the Laidoff employees, he talked negatively about them and agreed with other C16s about why the Laidoff employees were "Laidoff". So everyone's suspicions are correct, that some Firings have been disguised as a "Layoff". This has been so obvious and evident because they have Open Reqs/Job Openings and are actively searching for replacements for the "Laidoff" employees. The Open Jobs have the same title, job description, etc..

@eobj+1qvwCb1l Very well stated! We should all do this and nothing more. No extra hours. Put your Teams on 'Offline' and be with your family at the end of the day. Don't volunteer to do stuff anymore.

To the OP: Yes. Agree. Do the bare minimum until your time here is up. The majority of us realise that Citi is not the best place to build your career, so there's no need to do anything but the minimum until you are Laid Off or leave on your own. Don't do the management and Citi any favors. So basically you're saying, Svck It Up until you are Laid Off (collect WARN money on the Shareholders' dime, hit the Stock Price and Net Income), or quit voluntarily.

The Employee-Employer relationship is adversarial just like in a Court Room or Legal Situation or Lawsuit. Most employees do Not know or realise this. Employers are certainly aware of this relationship dynamic. Each side's objectives are diametrically opposed and opposite of the other side. Employers want to pay as little in salary, bonus and benefits as they can get away with and Svck Out as many working and waking seconds (Not minutes) as they can extract out of the Employees. Employees want to be paid as much and as high as possible in salary, bonus and benefits as they can extract out of the Employer for as little work and effort as they can get away with. You are NOT family, friends, relatives, allies, or Husband & Wife with your Employer and vice versa. You can NOT FIRE your family, relatives or friends. You can choose NOT to speak to or have anything to do with your family, friends or relatives, but you can NOT Fire them. Your family/relatives are still related to you even if you are estranged from them.

To Post ID: @vlq+1qL7BprD I agree: The risk of a major incident is increasing. Huge operational risks and only a few mistakes can bring the bank down in 30 seconds. ERM is truly dysfunctional and Risk Management is entirely a He||Hole. There are MDs and Ds who do Not know, understand or have basic quant modeling methods and skills. They submit reports that hide their mistakes. Big audit fails and another consent order will happen if this continues. 11 hours ago by Anonymous | 3 reactions (+3/-0) Post ID: @1hgp+1qL7BprD Another Consent Order, MRIA or MRA may be the final T0rpedo that finally sinks the Citi Titanic. LOL! And everyone knows ALL of the Laidoff Fvcked Over Employees and at least some if not most of the current Employees will have Schadenfreude and ROTFLMFAO !!!

We had a 1,000+ team meeting and Townhall meeting that was an absolute joke. It’s all BAU nothing to see here. “Keep working busy bees and forget we will give you the boot whenever we feel like it”. 4 days ago by Anonymous | 7 reactions (+7/-0) Post ID: @4bil+1qEniJJX

yeis kinda like quite quitting, just sit there hit approve button and collect pay

To Post ID: @eobj+1qvwCb1l Yeah that's true. The most or highest that 65% of the employees will ever get is a 3-Rating Meets Expectations anyway. So why go the extra mile or above and beyond the work???!!! This definitely happened in 2023 communicated in January 2024. 65%+ of Citi's employees who were expecting 1 or 2 Ratings ended up with Sh!!t Bonuses and Joke Salary increases while smiling through half a Bottle of Meets Expectations Scotch !

Work to the level of your pay and no more. Simple as that. Work just hard enough to keep from getting fired.

Citi will arrive at its target 180,000 employees by 2026 partially through natural attrition. After this week's Manager-level layoffs, employee layoffs and other employees shifted to other teams or departments, some of those employees will choose Not to stay at Citi. It's called "managing employees out" by forcing or influencing them to voluntarily quit so that Citi does Not need to pay severance or WARN. Employers do this by making employees do unfavorable work, setting them up for failure so that the company can claim the firing was performance related or work in toxic environments. Long before the pandemic, a co-worker had his desk moved out to the hallway. Yes, the employer did this to him. He had the brains to stick it out and sue the employer.

If you're asked or rather forced to do an Exit Interview with Citi HR after you submit your Resignation Letter do it over Zoom. Why waste time, money, effort and commuting (gasoline, parking, etc.) when you already quit the Citi Sh!!thole ??? Or do Not accept the Exit Interview meeting invite at all, you quit anyway. If you're asked or forced to do the Exit Interview, just keep repeating something along the lines of "It's time to move on from Citi." And leave it at that. Keep repeating it like taking the 5th Amendment. Why bother giving out VOE advice about why you're quitting Citi ?? There's Nothing you can or should say that Citi HR and your Manager(s) could Not already get by reading Every Single Thread on this Website thelayoff.com or at the very least from the VOE results Citi makes its Shareholders pay for every year. If Citi actually took action, used the advice from thelayoff.com and the VOE and Changed Citi FOR its Employees, you and thousands of other Citi employees would Not be quitting. I'm just going to keep repeating, "It's time to move on from Citi." And leave it at that No matter what Citi HR's questions may be. It will be a game of chicken and I promise I will NOT be the first one to flinch !

Yeah, this is true. Look at CTO Chief Tech Officer Riley. He went to HSBC worse off than Citi, for 3 x his base salary and most likely a guaranteed minimum bonus and who knows what additional perks and benefits. In many ways HSBC has worse problems than Citi and for a longer period of time for about 25 years.

All companies do reorg and layoffs, some every single year. Employees may end up working in one Sh!!t Hole after another with each one either worse or in the same dysfunctional shape as the other. The Only thing Employers can change or improve for the Employees is Money or Numbers, And maybe also health benefits and fringe benefits (more vacation days, better health insurance, day care for children, company car, etc.).

Private Bank and Wealth Management were gutted. Even though the media only reported it today Thurs., the cuts were made on Wed. Jan. 17. Some teams were literally axed in half. Half were able to keep their jobs.

January 22 Monday is Major Axe Day all over Citi. We were told Risk will be affected.

Employees should use up their sick days first before vacation days and make sure their Sick Days bucket in Workday is zeroed out at the end of the year December 31, or just Before they plan to Quit Citi. In this strategy, the employees will get paid for the maximum number of vacation days. As others have noted here, you get paid for remaining and accrued vacation days if you leave the company for any reason (Quit, get Fired or Laidoff), but not sick days cause vacation days are considered salary. This is true in any company.

To Post ID: @2tno+1qvwCb1l Based on your example and info you posted, in a way it does Not matter if the Employee gets a Doctor's note after calling in 2 consecutive sick days because if the Employee knows for certain they're starting a new external job outside of Citi on June 1, what's Citi going to do ? Fire the employee for Not being willing or able to produce a Doctor's note ? So if the employee's new job start date is June 1 and they need to do Garden Leave, this mean Garden Leave starts May 1 or as you said 30 days before official departure date. The employee needs to start using up his/her accrued and remaining sick days a few weeks before May 1 and Not take from his/her vacations days bucket in order to get paid out for the maximum number of accrued and unused vacation days. Let say the employee calls in sick for 3 consecutive days or reserved 3 consecutive sick days in Workday in April, Wednesday, Thursday, Friday and actually went on a Cruise vacation. The employee returns to work on Monday without a Doctor's note for being out sick for more than 2 consecutive days. What's Citi going to do ? Fire the employee for Not being willing or able to produce a Doctor's note ? Even if Citi does fire the employee, the employee can immediately hand in their Resignation Letter since the employee new job start date is June 1.

To Post ID: @3vbb+1qvwCb So true. The only way up is Out of Citi. Employees will only hear and get empty promises and implications of good bonuses, promotions, salary increases, better work and better work environment, BullSh!t, BullSh!t, BullSh!t, yadda yadda yadda from the People "Managers". You know what the Beatles said, "Yeah, Yeah, Yeah". I just stay quiet and pretend I agree with my "Manager" when he does his cajoling song and dance to the whole team about good bonuses, promotions, salary increases, better work and better work environment, BullSh!t, BullSh!t, BullSh!t, yadda yadda yadda ! Because it does Not matter anymore. I gave up on Citi because No one in their right minds can wait for Godot forever for something that may or may Not (most likely NOT) happen. Wall Street and the equity research analysts have given up on Citi. Citi might Not even live long enough to see 2026 before it's gobbled up by a Competitor and/or more pieces, business lines are sold because even Citi waved the White Surrender Flag, recently sold off businesses and had to admit that its Competitors beat Citi in the Municipal Bond business, International Consumer Banking, etc.. So long Citi SVCKERS !!! But Not before I collect my WARN money and help increase that US $2+ Billion expense hit to Citi's Dog Stock Price if Citi decides to lay me off ! ROTFLMFAO !!!

Citi will NOT Change FOR its Employees. Citi wants its Employees to Change FOR Citi and agree with Citi on everything, salaries, policies, bonuses (or lack thereof), promotions (or lack thereof), toxic Psycho Sociopathic "Managers", etc.. There's NO future at Citi. Citi is a Dead End Company with Dead End Jobs going No where but Bankrupt or merged / eaten up by a Competitor within the next one to five years. There's NO reason whatsoever to stay at Citi ! It's Destitute, Penurious and De@d Man Walking, a Half-De@d Zombie masquerading as a "Bank" with mostly incompetent Dvmb A$$ES Employees (NO other bank or financial institution has ever done a Colossal Fvck Up typical Citi mistakenly wiring US $900 Million Free Money to Revlon's creditors) mediocre at best Employees compared to JPMC, Goldman and Bank of America whom Citi worships and idolizes during Townhall meetings and on PowerPoints. Citi supposedly plans to FIRE an additional 20,000 Employees from its current base of 240,000 during the next 2 years. It's very possible Citi will Not live long enough to see the year 2026 and will be merged into a competitor before 2026. ROTFLMFAO !!!

Timing and planning are key to executing using your Sick Days Before you use your Vacation Days when you're certain you know your start date for your New external job outside of Citi. As someone here said, you get paid for your remaining and accrued Vacation Days because Vacation Days are considered Salary, Not Sick Days.

If anyone including your Manager asks you what type of illness you may have, if you went to the Doctor, etc. when you call out sick or have scheduled to take a Sick Day on specific date(s), do Not let anyone goad or bully you into divulging anything. You can simply say it's personal and I'm out sick or calling in sick. It's NO One Fvcken business !

Go to CitiForYou and search for garden leave and read the policy to understand how it works. It's based on your business function, title, etc on whether you are subject to garden leave.

Are all employee eligible for Garden Leave? Or is Garden Leave only for C14s and above?

To Post ID: @szs+1qvwCb1l Employees must also keep in mind if they're required to do Garden Leave. In your example, if the Employee is certain that they'll start a new job on June 1, Citi Garden Leave starts May 1, 30 days before the Employee officially leaves Citi. So this means the Employee must start using up their remaining and accrued Sick Days before May 1. This is assuming the Employee submitted their resignation on or only a few days before May 1.