By 2027 end, Citi planning to reduce no# of sites from 250 to 200 or lesser.
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This is more about the small offices where a few bankers sit. Perfect example - they’re getting rid of the Seattle and Dallas CPB offices
Hope to hear more.
Citi is such a contradiction. Close sites forcing people to be remote and then mandating they come into the office when there aren't enough seats for everyone. Then consider closing more sites. As stated before this is all about commercial property value and nothing to do with working better together. If property values were high Citi would liquidate more sites and send everyone home. It's far cheaper. That's what they were doing before COVID.
O Fallon can hold at least 3k people and is practically empty any given day.
I heard in a meeting, post meeting chatter, that Belfast was not shrinking per se. It was going to shrink in tech staff and be replaced with some other roles. Example, shrink in tech, move those roles to India. Fill those empty seats in Belfast with accounting.
You don’t have to worry about enough seats if there’s a reduction in staff.
They can close a whole site along with letting go of everybody at that site.
Reduction of sites??? We already not having enough seating for employees in a popular site and for car parking needs to walk a long distance.
Oh Citibank salary in India is way too low than other organizations. Very shame on the pay scale when I heard about it. Even Oracle pay 25 lakhs per annum for freshers these days. Citi is too low paying in India.
Sources? Hearsay? Water cooler talk? Anything official?
San Antonio is NOT going away, but they are closing another building and the on-site child care. it will be a single building occupied by Citi, where it was once 3 buildings and a child care building.
Belfast location is NOT going anywhere. It’s a permanent location. It is, however, going to be shrunk some and that headcount will be absorbed by hiring FTE in India.
Its all “word on the street until it unfolds”.
Word on the street is San Antonio, TX is gone by year end.
Obligatory "Belfast to be closed" post incoming.
In line with Hybrid model strategy. Thanks Jane for holding the line!