I’ve been hearing about the layoffs but I thought these had been going on already now I keep reading 1Q2024 w brutal numbers. However our regional office is hiring lots of people in my department although not same function. My boss keeps telling about what’s expected of me next year so should I assume I’m ok? I was hired mid this 2023 which also makes me wonder why would they hire me to let me go, but I don’t know what to expect. Our office seems packed the days that I go the office and the number seemed to be growing as the year progressed.
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Citi has gone from progressive company to managing by fear. Fear is never a good motivator. It may work short term but it creates a toxic environment of mistrust. Execs should to go back to management 101.
@qih+1qbGrWk0 - answer to your question “why did they hire you and fire you”:
Some of senior leadership has no strategic vision and they always have band-aid options. Some hiring managers don’t forecast product roadmap so they just hire and let go employees.
They have not eliminated c14's in most functions yet. So c14 and c13 are up next
They have not gotten to C14 in every department. In some cases this round is still c16/c15. They are doing executive management team - 3 (ie: 3 levels down from Jane’s directs) so depending on how your department is structured they could only be looking at c16/ right now or in some departments down to C10..
If you are a C14 or above, you should be safe at this point. That's how far down the chain the RIFs have gotten. In January, RIFs will resume at the C13 level and below.
I was hired mid this 2023 which also makes me wonder why would they hire me to let me go, but I don’t know what to expect.
HAVE YOU HEARD OF last in first out?
sometimes companies need to show cuts to make their investors happy
Read all the info on the Hub, should give you a better idea of the changes and timeline.
This forum is a pisstake and full of scaremonger's. Take everything here with a grain of salt.
No one is safe. Which office are you located in?