I left another job to join Citi and now I'm starting to think I made a huge mistake. Will I get anything if I'm laid off?
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Florida unemployment max is 900 a month lol
I think they will let you stay at least a year. That has been my fear all along, but seems that's the way they have acted, which I'm thankful, but also looking back, definitely it's not a straightforward decision if I had known everything I know now.
If I'm brutally honest I may be let go within the next year or if I'm lucky the year after. If a miracle happens I'll stay.
The offer seemed really attractive given the name of the company and to be fair the pay seemed much more generous than most any other job in my area according to my qualifications.
But I know it will also be a hit to my professional reputation and it will be harder for me to find a job once I'm laid off. It will also be quite an embarrassment given that people outside really view Citi as THE dream job.
But going back to your post, I think they will let you stay at least a year. Also from what I observe and read here it almost feels that it is the longtime workers that are being targeted more than the new ones. But after the year, I believe anything goes.
I don't think you made a mistake. It is just another opportunity. My HR is nice, and I got the confirmation that I started 7 months ago in Citi and got the package mentioned by @36skc+1oOgBm37
There is a Federal 60 day WARN notice required (applicable for every state) but only during “mass layoff” periods. Look up what constitutes “mass layoffs”. If you are let go as how, you may not qualify for the WARN notice.
For NY state, it’s 90 day WARN notice, meaning from Day 1 of the notice period (includes the “working period”), through Day 90, Citi will pay your salary and full benefits. Severance is 2 weeks per year worked, OR 12 weeks pay (whichever is greater) if you make $100k or more annually. 8 weeks if you make < $100k. Max severance payout is 1 year’s salary.
That 3 months ( or 2 months in some states) is the WARN period. It depends on if your layoff fits the requirement or not.
Then 2 weeks per year. There’s a pdf on separation pay in online employee handbook
Folks, Citi NYC -will pay 3 months salary with benefits and then you will receive your severance package and can file for unemployment benefits.. I know a person was just laid off about a month ago received above and I believe some of bonus but not sure about bonus Person only employed a year w Citi
@lrv, I have been through this at other banks. They do this all of the time. They never, tell you the names or the areas they're going to cut.
I worked at a large financial institution, and they announced massive layoffs. It was all over the news and internet, leaving everyone on pins and needles. Townhall meetings were useless. Everyone asked when, and where. They wer always vague. This went on for months, and carried on to about two years of anguish. All the big heads just kept saying is, "look. There are just too many people working here. It's nloated here.". Heard it for months, until your number was called.
Florida has a 60 day WARN period, but those only apply to “mass layoffs” so if your friend was laid off with under 50 others, then might not have qualified.
Everyone I know that was let go in the last layoffs in March got paid out the WARN period then, 2weeks/per year severence z
I truly believe that citi wants people to freak out and get another job so they don’t have to give severance. There’s no other reason that they’re handling this layoff so poorly. If they really cared about their employees, they wouldn’t be threatening them. They were just tell them there’s going to be a fire in and let them know who you don’t leave people hanging for months..
re: "Lots of misinformed people here.." I disagree. I am not familiar with NC or FL law but I can confirm in NY I am in a 90 day non-work situation where I continue to be paid as usual and at the end of the 90 days I will receive a severance payout of 2 weeks for each year as described in the separation plan found in the policy handbook.
Note this does not apply if the termination of employment is due to cause meaning improper behavior of some type. If your C13 colleagues were not terminated for cause, I suggest they contact their state employment office.
Lots of misinformed people here. 2 of my teammates (C13s) were let go earlier this year. One lived in NC and one in FL. Both received 2 weeks notice, and received 1 extra paycheck (2 weeks of pay) for being here for a year. Neither were paid for 60 days.
Making workers wonder for 3-6 months if they will have a job is not a good plan. So far no retirement incentives and no transparency. Hopefully things get better.
The 60/90 day thing is if it’s required by WARN act. Meaning Citi needs to pay out that period in lieu of posting in advance etc. ( and it’s a “mass layoff etc.)
Severence is 2 weeks pay per year employed, generally 8 week minimum.
This is US at least.
Dont let the extra $15-20k fool you its not worth it working here!
re: "Depends on what state you live in. If you are in a "right to work" state, then you won't get 60 days :"
Incorrect - 60 days is a federal requirement though some states, NY/NJ/CA, expand it to 90 days.
Depends on what state you live in. If you are in a "right to work" state, then you won't get 60 days
Yes, you will. On the internal Citi web page, search for Separation Policy. You will have 60 days of non-work employment, i.e. - you will be paid as usual but you will not have access to the Citi network. After that time you will receive severance according to the details in the plan. There are minimum payments based on time with the company and your title. i.e. - Mgr, AVP, etc.
Im not sure but don’t worry you’ll probably get something plus you can collect unemployment. Hang in there and good luck.