Seems operational risk will be hit hard - latest numbers show 30% reduction in force in some regions...
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I wish I was as naive as you. Do you really think the schmuck is going to come in and say yea your jobs are at risk? Of course not, its his job to keep you motivated so sh-t still gets done. Noone is safe in this company
How about aml fiu in tampa??
@qts+1rbDvnb7 Your post must be a trolling post. I refuse to believe any of the swamp land that the higher ups are selling. If you want to believe the BS then that's your right. However, I do not think it is wise to think one is safe just because MM hinted/said so. LMAO
Guys:
He said Operational Risk — not Operations. Read.
OP: Is the region the same one where Taylor Swift lives, I assume?
OP, do you know which committees will be impacted? Jane's previous announcements mentioned reducing committees and layers of approvals.
Mark Mason fireside chat went well in Tampa. He’s much better in person than in some of the videos I’ve seen. Anyway take away is that there is 900 finance folks in Tampa. We are doing a fantastic job and are essential to the transformative efforts of Citi. We are also much less expensive than NYC. So finance at least in Tampa is safe
Post ID: @nbr+1rbDvnb7 there are several risk areas which are not going to be affected in this round. Credit risk seems to be one of them. It is a mixture of mainly operational risk, market risk and ERM. That is for one specific region. I have no idea about the rest.
Thanks for providing some context to your original post. I don't doubt more significant cuts are coming to Operations. The move in my division is we need to “offshore” and projects have been axed so how our jobs are supposed to survive that? Not including HR move that if you are remote can’t report hybrid (ex. Live in Maine but you are supposed to report to NY) you are sc--wed. You are in professional limbo.
OP here - the ppt I have seen is prepared by HR and used to perform internal consultation before officially announcing the cuts.
I agree we need context. How do you know that? Obviously, operations will get a hit Jane said it herself but this post lacks context to be considered informative.
@OP @@ukd+1rbDvnb7, what about 2LoD Credit Risk and other support functions? Have you seen anything on this?
OP here - I have seen an HR ppt with numbers in Risk as a whole - and in it the proposed cuts are approx. 30% of Oper Risk in one particular region - not sure for the rest... I am not going to give more details for the obvious reasons.
Your post is titled "update". What update and what are these latest numbers? If you're going to make some sort of claim, you need to provide some tangible proof, otherwise it's just fear mongering.