Started today but most is tomorrow. 15% going. SVP next. D and MD People being told either safe or gone during comp discussion.
17 replies (most recent on top)
If you have zero team, you are meant to in Technical or Business skills.
People management doesn't allows you to be in D or MD position. Some people really don't want to play with lives of others.
there are so many people in ERM doing nothing that it’s not even funny
they could axe multiple MDs and DIRs in NYC alone and no one would notice
There are Directors and MDs that n ERM with zero team. I wonder how they were hired in the first place. It is easy to get a job if you are friends with MDs:-)
@dkc SVPs with less than 6 direct reports are at risk yet those with 0 direct reports are safer? Why would those w/ 0 direct reports be safer?
I heard again that svps who have less than 6 reporting to them are out or absorbed. If you have zero ppl reporting in at svp level, somewhat safe. Not sure if it is true. Good luck to all.
Does it mean if we have received a compensation communication by this week, we will be safe?
It’s not possible to make sense of all this garbage with people speaking in sentence fragments.
@nlc+1qD2hfER - minimal SVPs/VPs, as in mainly those who manage other people? Curious as to why they’d lay off some SVPs/VPs now vs. in the next layer around Feb with everyone else.
@nws+1qD2hfER
TY!!!
When are they announcing VP/AVP cuts?
So, eventually 20,000 of VP and AVPs will be gone, PLUS 5,000 managers (D, MD, SVP) ? Consultants not included in either of categories?
So much for 20,000 total reduction declared earlier ...
TY!
MD, D and some minimal SVP's/VP's
@nws+1qD2hfER - Which 2 level org announcement is on monday? MD and D?
Communication ends by Friday. Layoff's starts on Jan 22 per Jane's announcements.
If you are not communicated , you are not in game
All Citi. Im a MD in risk. Roles changing. Option to quit if you dont like. 40-60% of bonus offered to do transition. Thu and friday is mostly leftover comm and role reduction discussion for D and MD only.
Monday is 2 levels of org announcements. 5000 managers by march. SVP plus D and MD total 5000.
VP and AVP combined for 20K. Plus 30% contractors
Jane has meeting with the MDs tomorrow at 8AM est, don’t know the topic
What about AVP?
When are SVPs notified then? In February?
How do you know? Which group is this?