Thread regarding Citigroup Inc. / Citibank / Citi layoffs

But this is wrong, can't accept it..it doesn't matter whatever nonsense is being told..

@166 Yep. just remember, you work for a company that has told it's managers to rate people that would normally be a 3 and put them at a 4. Lying and falsifying ratings to push you out the door. Meanwhile Jane gets appointed to the board for an extra $20+ million on top of her already bloated salary. A salary that could have offset thousands of people losing their jobs. This company does not care about you. The contrary, you are a drain on the stock price. And they are doing everything they can to make you as miserable as possible to leave on your own to save a buck. Years of dedication crumbled up an thrown in your face so Jane can sit on her throne. Disgusting, immoral and unethical. Greed at it's most evil.

I find it disturbing or worrisome I guess that things are so bad at Citi that they can’t afford layoff packages. They are relying on making things so tough that people leave on their own as its cheaper than offering a severance. That’s really messed up man that such a huge company is that much financially in distress. It bodes ill for the future when it comes to any form of stability.

@c1

So basically unless you're in a revenue-generating job (selling financial products, Stockbroker/Financial Advisor, Investment Banking, Markets/Sales & Trading, Research Sales (Equity / FI), etc.) don't gripe ???

So then why bother working harder, faster, better, more, going above and beyond the jobs' expectations or bend over backwards for a MotherFvcker (Citi) that's So BROKE AS$ POOR because Support or backoffice employees do Not sell products !!!

Hence, employees do Quiet Quitting and the bare minimum work. We're all going to be Rated 3s (or lower) anyway!

Do Not volunteer to help out or volunteer to do any extra work. Do NOT give out trade secrets or information that may help your co-workers = competitors, else you become fungible. Make sure you get Amnesia.

Where's the list of promotion of the year (non md)

@ay : Contractors are given 2 week furlough by Citi to do cost cutting. If contractors will go , who will do the actual ground work ?

FTEs in most of the departments just micro manage contractors and don't participate/work much.

False. Source: I've promoted multiple employees.

If you're in service and operations, you cost the firm money. If you can't definitely show your contributions measurable in money, didn't gripe. Citi is capitalism - if you want to work and excel, you have opportunity; slowing up just for a paycheck isn't going to get you far.

@at thank you

Also Citi has over 200k workers. It was annouces that 100k are at least contractors and citi wants to completely remove contractors, or at least to a much smaller amount and have citi atleast 90% employees and 10% contractors, maybe less.

Contractors in citi would be better leaving as they plan to get rid of nearly all of them shortly

@aw itll likely be Q1 when the next batch is notified and then slowly throughout the remainder of the year

So will layoff be immediately after earnings or in Feb?

@an you younger people are losers and slackers. Wait your turn while the elders fatten up for retirement.

@am it will depend when you have comp day.. usually that's in Jan. Your manager will advise if bonus is still applicable if you are already getting a redundancy package

If one reads the comments on this site one will get the impression that Citi is 90% pre-retirees :D It is like retirement home, everyone is couple of years away and is "coasting". No wonder the company is in such a mess - unfortunately from what I have seen Citi is again taking the wrong decision to cut younger, cheaper people instead of all the octogenarians :D All of you are such a sh-t show...

Are laidoff ppl still getting bonuses if their last day is after Jan 31?

@a3

Employers are cheap when they're destitute and/or struggling financially.

@a3 Very true. In the last 12 months I only spoke to folks stating they were just waiting for the package and asking if there is any voluntary severance program.

@a3 SAME!

Citi is the cheapest company I’ve ever seen.
“ Citi has become the company everyone advises to leave or not apply for.” This is like the 1000th time I’ve heard that in mass internally. If they’d offer a voluntary severance, I’d so so so very much take it.