Hearing that Citi is going to start terminating employees due to performance in order to not have to pay incentive.
Are they going to "manufacture" 3-3 rated employees into 3-4, 4-4 etc.?
Do you think departments are being given a directive/goal that a certain # / % of employees need to be terminated? So they'll have to find employees who are normally rated 3 but will have to turn them into 4 rated candidates?
Thus, employees will be blindsided when they see a 4 on their EOY?
12 replies (most recent on top)
The ratings have never been about performance. It’s all about who you know and Citi’s plans for downsizing. Management expects you to agree on everything and not question them. Have a kiss up, bend over, and smile attitude or else.
What happened to that class action lawsuit? I meant this is intentional and too much money is involved so isn't it could be a good point?
No unions in NAM. Rating 4, you got to pack
@1xqe+1triPNj9 severance is not a right. If you are dismissed for performance, you get nothing. Most US states are ‘at will’ meaning either party can end the relationship at any time without reason. Dismissed for performance puts a bow on it in case someone looks to litigate.
If you have unions then severance packages is must specially in EU.
Post ID: @1wke+1triPNj9 Voluntary quitting is what Citi wants so that Citi does Not need to pay severance. Citi will get this anyway because at least 50% of employees are at the very least passively searching for new jobs if not actively searching. Actively searching for new jobs means the employees have decided that they've committed to leaving Citi and getting the Fvck Out of there asap! And when employees are actively searching for new jobs, they're doing the bare minimum work and just cashing Citi's paychecks until they say, in actor Arnold Schwarzenegger's words, "Hasta La Vista, Citi !". With all of the several Consent Orders, MRIAs, MRAs, new monetary fines ( 10 July 2024 ) US$136 million, and most likely additional fines in the near future because Citi collects the aforementioned like a numismatist, CitiZombieDogBank is on life support and will Not exist by the year 2026 !!! ROTFLMFAO!
Don’t think so, citi is not as bad company as OP think so. They’ve already calculated severance packages in this year financial forecast. And even they decide to give you 4 I believe they are obliged to give you severance package( at least in Europe ;)
It's true for my department. They have severely governed our workload, sending most of it offshore to folks who have zero productivity standards to meet, all while implementing higher productivity standards here. We have nothing to do.
With all the "quiet quitting" being advocated in this site, those 4s shouldn't be too difficult to find.
Of course. It has Jane’s fingerprints all over such a move. I would not be surprised in the slightest. Rest assured though, Jane will be well protected. Regardless of what happens, she’ll still get her mega millions. McKinsey alumni formless void, gladly laying waste to every single thing she gets her hands on.
Agree with poster who said mid-years will lay the groundwork for 4’s at year end. 4’scare usually managed out. Those folks should expect a PIP.
Watch out for the mid-year reviews. Managers were told to document some negatives in their mid-year comments in order to give 4s at the end of the year.
That removes any grounds for an appeal.