Citi’s stated goal of reducing headcount from roughly 240,000 in 2022 to about 180,000 by 2026 cannot be reconciled with the headline figure of ~20,000 layoffs. Even allowing for normal attrition and divestitures, the numbers imply that a far larger reduction is occurring off-headline—through hiring freezes, role eliminations via restructuring, automation, and business exits—suggesting the “20,000” figure significantly understates the true scale of workforce contraction.
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@b3
Contractors are a different line item than employees. They are not fungible.
@OP do you even work for Citi? One word - Banamex
Contractors not contributing much should go first in March than FTEs . There are too many actually doing bare minimum which will significantly reduce head count
The reduction from 240 to 180 was the 20k + the Banamex IPO. However, more cuts coming. We're in the forever layoff stage.