They are really dragging this sh!t out.
In total, not that many people have been let go, but there is a lot of uncertainty about who is going to report into whom, and that won't be disclosed until Wednesday, it seems, when each group has a town hall.
Emails are caveating that there will be more layoffs through end of Q1.
Can someone please get me the F out of here? Please?
Post ID: @5ypd+1qHwjpTf Another Consent Order, MRIA, and/or MRA may be the final nail in Citi's coffin. Citi is a dying dog with 5 kinds of cancer that needs to be Sh0t ! Just put it out of its misery and let the world and Citi's employees move on. The Federal Reserve and Office of the Comptroller of the Currency (OCC) fined Citigroup $400 million in 2021 for Citi's mismanagement ! This doesn't include several additional and other fines.
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”. by Anonymous | 7 reactions (+7/-0) Post ID: @4bil+1qEniJJX
There will be at the very least two more rounds of layoffs and people getting shifted around. One in Feb and one in March. It's Not just layers being eliminated, some MDs and Ds were "laidoff" because of performance or the Head Top Main MD just did Not like him/her.
Lower end roles will be in February. Each phase is basically going down a layer of employees
Can you give examples of which managers are moving?
Inefficient managers are moved from one group to another instead letting them go :-(
Well there are some changes.
Not a whole lot, but you do notice a couple of people have evaporated.
That’s why I was mentioning that these org charts don’t mean anything. Group names have changed and no one knows reporting structure.