Are we now at the point where Citi will continue making cuts to benefits until enough people who have had enough are gone? It certainly seems cheaper to gradually thin out the workforce this way instead of spending money to lay everyone off. I truly don't like the direction this is headed.
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Citty has been cheap fer years. Are you new joiners or something?
Everyone keeps asking the same questions in a different way. The answer is Yes. Doesn't take a lot of logic to figure out that Citi needs to cut X number of employees and that it's much cheaper to pay them less, pay less for benefits, and pay less severance. So yeah, the best case scenario is to make you leave on your own. It's not a good long term strategy but the goal is stock price. Citi is not the only bank doing this. the entire financial sector and some tech are doing this.
With the cheap bonuses and compensation, they're certainly off to a good start. Astonishing.