Those notified of “you’re no longer an AVP or VP”….you’ll see it affect your pay.
Management has been told to not bring it up unless asked. I have no idea as to how fast this will happen but it will be taking place.
8 replies (most recent on top)
If a demotion results in reduction of salary and by extension bonus, this is one way to manage employees out and get them to voluntarily quit. Also, even though some employees were Not Laidoff and were transferred or shifted around within the same Department, this does Not mean they'll stay with Citi. These maneuvers may be another way Citi is trying to get people to quit voluntarily so that Citi does Not need to pay Severance. Some of my co-workers were offered a demotion in title, but not pay. Some of the employees who accept this arrangement (including myself if I were in that situation) will accept the demoted title for the short time being while they search for a new internal and/or external job. Just because we were transferred to another group does Not mean we'll stay at Citi.
I can’t see going from C13 to C12 and have the salary remain the same.
@nbe+1rKKKJRG
imagine thinking a demotion wont result in a pay reduction lol
Hmmm, if true would it be grounds for a class action?
I was specifically told only my title would change from AVP to Officer.
My pay and job responsibilities are to remain the same.
Personally call me what ever you want. I can't pay my bills with a title.
MD lies most. Pay reduction most from bonus slowly happening. They will not touch base pay
Agree, OP is lying. I asked my MD also who said it would not happen.
We all know that MD’s never lie, so the OP is wrong.
OP is a troll. I've confirmed from two different sources including my MD that this will not be happening. Pay will be unaffected with title changes.
Why do trolls lie?