I have seen just about every location in North America on one list or another here saying it s a "high cost" market. They can't all be high cost. I guess what i really want to know is what cities/states are considered "low cost" if any exist.
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States: Missouri and Texas are also considered low cost locations in addition to what's been posted on this thread.
But as other posters said, low cost locations also get hit with Layoffs.
But relative to the high cost areas, the impact is lower or Zero.
For example, New York State, New Jersey may get 100+ employees laidoff in a layoff round, let's say in January. But Missouri will probably get zero because it's very low cost there, and Texas will only get 10 people laidoff.
Be aware Citi's Layoff pattern since year 2023 has been mid-month 14th to 17th during these months:
Jan
Feb
March
April
Sept
Oct
Nov
Because several Consent Order projects were closed or completed in May 2026, there are additional Layoff rounds in June, July in 2026.
There’s a 1-5 scale with every single location ranked.
@d8 sure thing. Mo--ns like you rent.
Don't worry, it will depreciate (in real terms) 5x after the money printing is over 😀
I’ve lived in Tampa for most of my adult life (40 years). It’s no longer low cost. Was fortunate to buy a home in a desirable south tampa neighborhood right after the 2008 financial crisis. It’s appreciated 5 fold.
Thats exactly what the poster intended to say.
Tampa, Florida and Atlanta, Georgia are generally low cost locations when viewed in totality and grouped with other cities and/or States when compared to NY, CA, Massachusetts, Virginia.
No need to be mean, cruel and vicious. But then Citi in general AND Citi HR are inherently, naturally this way anyway!
That's why they're Hated and vilified on this and other Internet forums. And just because some employees don't post on forums doesn't mean the majority of employees don't feel the same way.
And Employess doNOT trust the Bullsh!t annual VOE to be confidential or anonymous.
Remember when Tampa was low cost and Citi tried to get NY people to go there by incentivizing that they’d keep their NY salary if they moved? How’d that work out?
@cg I'm also in HR. Compensation receive input from the estate teams. When you hear anything about market rates, the data point for this is commercial real estate values, predominantly Citi offices, and not salary or cost of living. I have worked on many salary structure reviews and not once was actual market salaries considered.
@a4 What you posted was wrong. Im in HR and have seen the lists
Low cost in the US is limited to rural areas in the southeast like in Missouri or Arkansas.
Tampa, Atlanta are not "low cost". Yes, they are lower than NY and CA....everywhere is, thanks to your socialist agendas you all seem to love so much.
This is determined based on commercial real estate value. I was curious about it myself and was able to find it out through connections in Citi teams.
This is why sometimes we see locations that have high cost of living but classed as LCOL because the commercial real estate market is performing poorly even though residential is performing well.
Canada is growing, and many Indian professionals are being promoted into senior leadership roles, while positions in the USA are being sacrificed.
@ac Canada is nothing but just di-kriding the US. Literally a shithole. Can’t wait for it to be the 51st state, atleast then it will be of value
Dallas/Irving is now considered a high cost location. Jacksonville is a medium cost location
Tampa is a high cost location
India, Costa Rica, Poland, and Budapest. Technically Canada too, but Canada is really just India2
We were told by my MD who's been at Citi for 20 years:
Low cost locations where Citi has satellite corporate offices (this does not mean retail bank branches):
Cities:
Irving, TX
Dallas, TX
O'Fallon, Missouri
Buffalo/Getzeville, NY
States:
Delaware
Maryland
North Carolina
South Carolina
Florida
Iowa
Minnesota
If you're Not in any of the above, you're in a high cost location because of real estate, rent, taxes and other factors.
This does Not mean No layoffs occur in low cost locations. It's just that local cost have lower probability of getting hit.