Thread regarding Citigroup Inc. / Citibank / Citi layoffs

So am I reading this right from the media, about the numbers?

that this Q1 is basically the managers (5,000), the other (5,000 out of exiting businesses which I guess should be pretty straightforward and kind of known to whoever works in those...

and the actual bulk of the layoffs - 10,000 won't occurr now but will be ongoing from now up to 2026, from support functions (operations and technology).

So this 10,000 layoffs are the ones we all non-managers are paranoid about, and it won't happen in Q1 but it will be stretched over the course of two years. So we aren't even safe if we get raise/bonus, get a 1 or 2 rating in the next year or two, survive 6 months, 1, 1.5, or 2 years, our role is already set to be gone after that. We are not even safe if we get a promotion in that timeframe.

Is this right?

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| 1472 views | | 4 replies (last January 23, 2024) | Reply
Post ID: @OP+1qHy7zSu

4 replies (most recent on top)

Ratings / bonus / raise don’t mean you are safe. Was a 2,2 for 2 consecutive years and let go.

Sorry to say but Citi is not the place to be these days if you’re looking for stability / safety.

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Post ID: @1rqq+1qHy7zSu

I was told from my MD this was round 3/5 with two more to go before Q1 ends

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Post ID: @1gpw+1qHy7zSu

@itp+1qHy7zSu So whoever didn’t get notified yet -> survived for now until March?

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Post ID: @rse+1qHy7zSu

Can’t comment on the last bit, but it was confirmed by my D today that they’ll do one more round of cuts by level in March. Following that, cuts will occur department by department through 2026.

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Post ID: @itp+1qHy7zSu

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