Do not think for one moment your manager is taken off guard at the last minute.
I would say they and h/r know within 2-3 months ahead of us finding out.
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@kb not necessarily and depends on org. I know for a fact that names were kept pretty close to vest in one org to prevent leaks. Maybe 3 days prior C15 of folks told. There was an instance of HR erroneously sending out notification to impacted folks a day or two early. One of the folks called their manager who had to ask their manager if true. Heard it went to a small group of people (ha). I knew at least 5 of those folks. Think it was 60 ish.
Managers who are at least C15 will know who is being let go because they are often included in the discussion and need to complete HR prep work. Some managers who are C14 may also know but probably not involved in the initial discussions. but the important thing is that knowing who is being cut, doesn't mean someone is safe. there is no guarantee that because you participate in the exercise to identify the RIF list, that you are yourself not also on the RIF list. but many C15 and C16 will get to self-select, because they are part of the initial discussions (last year, months ago) and will have the opportunity to self nominate for RIF. but not all. some C15 and C16 will still get surprises. most C14 and below are surprises.
I saw employees who works for over 20 years let go in NY and FL.
@ed depends on a lot of factors. Department and location is part of the math. But I'd say your odds are better if you have a long tenure. but with a big rif at high cost location and redundant positions it won't matter.
I am a C15 and I have a couple of C16 peers. They don’t know until the last minute.
Do you think higher tenured employees won’t be let go?
It's done at a very Sr level and the primary factors are job redundancy, tenure/cost to layoff and location. Ranking is not part of the equation oddly. 1's and 2s have been RIFd and slackers remain. It's all a math problem and cost based. Highest cost locations, highest cost/low return departments and FTE with shorter tenure.
100% untrue except at the highest levels, and at those levels, they are not dealing with individuals, they are dealing with numbers and targets.
Typically C15s are asked to rate by multiple parameters but they wouldn’t know for sure who’s to go. Only Sr MDs and their close circle know I guess.
OP here. I should clarify that managers and H/R knows months ahead who is being let go. Of course, anyone below does not have privy to this information, but best believe our managers know and may have even picked us.
Only senior MDs - everyone below is in the dark. I have been through this process many times already - even my MD boss was surprised they were being cut / redeployed...
Vidya, an SVP, was clueless.
Jody, the MD, knew for a while.
I personally don’t care what Citi does. They can fold, they can succeed, they can keep me or let me go. I’m financially insulated. The decision makers can do whatever they want.
Apparently what they want is to run Citi into the ground.
@OP Our entire team was let go back in 2013 and managers knew more than a few months ahead.
Some MD’s know but unlikely that C15 and below have any idea. That information is way too sensitive to share broadly.