Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Citi expects to finish consent order work later this year

across data and risk managemnent. Reuters quotes that Citi thinks only ticking the box work is left for consent order especially with data. Though the OCC committee has to agree with the work done by Citi and this committee has appointees from both political parties, they might just give it given the overall direction of regulations under the present admin.

What this will mean....obviously layoff's. In any case, Nawani's org size is beyond control. It's still a pretty cr@ppy market...those in such roles should dust out their resumes and start applying/activating network


by
| 1761 views | | 6 replies (last February 11) | Reply
Post ID: @OP+1kh290367

6 replies (most recent on top)

@d6 no delays but accelerated timeline is always welcomed.

by
| | Reply
Post ID: @gs+1kh290367

There are deliverables for CO as far out as 2027. The plan was approved by the OCC. Dates cannot be moved.

by
| | Reply
Post ID: @d6+1kh290367

Based on what I've seen, the consent order hasn't really resolved much, and there are still underlying issues. I'm sure another consent order or violation will eventually surface. They're even outsourcing US regulatory reporting to other countries for cost savings. How can people in other countries be expected to know US regulatory reporting? Welcome to corporate America, where it feels like the government doesn't prioritize people.

by
| | Reply
Post ID: @az+1kh290367

I believe they’re expecting it before the big investor day in May. It’s going to be quit a show. I bought Citi shares in Oct 23 but sold last September after getting near double. Reentered th stock in Jan in expectation of the news. I believe it will hit $150 this summer then I’ll be out again. It will be a catalyst for more layoffs but they’ll be targeted and orderly. If you are in a CO role, I’d suggest keeping you options open. A lot of people will be impacted.

by
| | Reply
Post ID: @a9+1kh290367

@a1 Citi seems to think so

by
| | Reply
Post ID: @a5+1kh290367

Is data close to completing its CO commitments ?

by
| | Reply
Post ID: @a1+1kh290367

Post a reply

: