Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Excellent plan. Now there’s some rock solid forecasting for you.

https://finance.yahoo.com/news/exclusive-citigroup-plans-slash-contractors-103300471.html

So mass hire contractors and once they find their footing, layoff FTE in mass “because its the right thing to do” laughing all the time knowing that the first millions in cost savings goes straight Jane in her bonus, raise etc… she gets her’s off the top you know. Later, decide to get rid of the contractors and start hiring FTE’s, so it takes 6 months to a year to bring them onboard. During this time of ramp up, have the more tenured FTE’s work extra extra hard to pick up the slack left over from the contractors taking it to the next level by shorten deadlines.

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| 1501 views | | 5 replies (last March 18, 2025) | Reply
Post ID: @OP+1jp8mf49k

5 replies (most recent on top)

Large internal fraud event by a tech contractor recently.

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Post ID: @z8+1jp8mf49k

I think it’s another regulatory ask which was sidelined/ignored and now suddenly complete reversal in order to avoid formal diktat. Human Capital risk was being highlighted for a long time but no real strategy/budget was allocated to address it.

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Post ID: @v1+1jp8mf49k

I don't think this was a Jane call at all, I think this was a Tim Ryan decision.

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Post ID: @t0+1jp8mf49k

Good strategy as contractors work harder trying to get converted to full time. Good call jane!!

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Post ID: @d8+1jp8mf49k

You don’t know what you are talking about. This is not 1 for 1! This is 10
Contractors for 1 FTE. This company will be in ruin in next 2 years.

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Post ID: @a3+1jp8mf49k

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