Allegedly heard tech layoff haplening next week up to 600 people affected. Is this true?
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Everyone knows you can replace anyone in tech at the drop of a hat. Its just that easy. A simple job posting and WHAMO!!!!! Instant tech hire, just like that. It truly is just that easy to replace anyone in tech.
Curious how many contractors we have v FTE. It’s so hard to get anyone to understand the tech problems that our group has. We keep having access to programs taken away without our knowledge. We’re expected to know what Marketplace request we need when we never had to order before because it was part of the package 🙄
Is all the layoffs from US or other locations as well ? Any insight!
A public WARN (Worker Adjustment and Retraining Notification) notice is not required if a layoff is less than 50 employees within a 30-day period and the total number of layoffs over a 90-day period does not reach 50.
Post ID: @de+1jsmpx03w Correct. I'm not sure but each U.S. State has a minimum threshold number of Laidoff employees that tr!gger and require the public WARN Notice.
NY, NJ may be 100. And so, if Citi laidoff less than 100 in one month in NY, Citi would Not need to publicly file a WARN Notice.
Each State's DOL Dept. of Labor website has this info.
Technically they already notified us of continual layoffs over a year ago.
Not so much. There are loop holes that Citi does not mind taking advantage of.
They can layoff 10 at a time every week if they want which is under the WARN act radar.
OR 10 in the US, 10+ or so in Belfast, some in UK, some in India etc…. there are grey areas when it comes to the WARN act.
in the U.S., the WARN Act (Worker Adjustment and Retraining Notification Act) requires employers to provide public notice of plant closings or mass layoffs when a certain number of employees are affected. This notice must be given 60 days in advance.
https://www.thelayoff.com/t/1jsphpjn8
It doesn’t sound good. In my view Tech are already stretched and this layoff will only worsen the situation.
Shifting focus from contractors to hire employees. Thank god because contractors are actually such a huge expense and in my experience they aren't better at their job. But they are easy to get rid of which is why they hired them.
USPB tech will be affected, got notice. Fte rif then contractors. Jim Orion had mdd meeting was mad and making all reduce staff asap, my md told me all and they are forced to put up names randomly and am one, just give me my package at this point.
I received notice of displacement today. I spoke to an MD and was told all groups have had pressure to reduce headcount to meet the RIF goals. Also, positions in the US are being moved to Mumbai.
Belfast will be hit hard..
Yep lots of layoffs happening today get the next 2 weeks. I posted a thread a few days ago but was met with cynicism and doubt. Y’all will see. And, I too would welcome the severance. I really don’t give a F.
Citi produces two things. Revenue by managing other peoples money and layoffs. We are really good at producing layoffs. We should wedge that in to the mission statement somehow. I mean, is there any other company that leads the pack like we do in that area?
As an FTE, I’d take a severance in the blink of an eye and never look back.
Yes. Contracts will be phase 1. FTEs will be phase 2 and will take time to vet. What a time to be alive!
Location?
Very true
Heard from md talks been happening since last week and this week and names being floated for action as soon as Friday. At this point many would welcome the layoff.
So long as the severance package is offered, I really don’t think anyone would care if they were chosen or not.
Something going down. Asks from above being made of MDs I heard, lots of secretive meetings...