Heard of several layoffs in CIT over the last 24 hours. First in the US followed by Bangalore and other regions after. People tech, DES, CTS. Mostly directors and managers but also heard of some ICs. No idea if it’s over but surprised to not see anything about this yet
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@12d 10% apparently
Still is rhis going on this week in Cyber and O&I?
Is this week going on?
How many full time employees does CIT have? what is the % layoff?
@kz Yes, Cyber and O&I
@b2 Corporation Information Technology
Visa executives should be ashamed of how they handled these layoffs. Just weeks after celebrating record earnings and profits, they sat behind scripted talking points and treated people like disposable line items in a revolving door operation. There was no humanity, no accountability, and no meaningful acknowledgment of the impact on employees and families.
What’s even more concerning is the false narrative being pushed that AI will somehow absorb the workload of the people they eliminated. That simply is not reality. Visa has not implemented mature, effective AI capabilities capable of replacing the operational knowledge, leadership, and technical expertise that walked out the door. The result will be the same pattern seen in many corporations: fewer people doing double the work while executives protect margins and shareholders applaud temporary cost cuts.
I genuinely feel for the employees left behind because they are the ones who will carry the burden of leadership’s decisions.
There's more to come next week, not CIT.
Is this completed in this week ? Or continue further..?
Massive yikes, more to come?
@b2 Corporate IT. Manages all the internal business applications, workstation and communication platforms
What’s the severance like?
@b2 corporate IT
@b2 Corporate IT
What is CIT?
So shameful what they did no empathy reading a two line printed paper that will destroy a family life is not a good way to end it
It's still going on, some big names have gone in CIT
handled very badly as usual.