Have folks moved from New York or other high-cost locations to Tampa or Irving for Citi? Was there an implication of loyalty for having done so only to now be discarded like trash?
16 replies (most recent on top)
@d2 yet HR doesn’t think so still. I remember asking them
Why they had Tampa in a lower zone still. They are living in 2008 still.
@d5 if they are not dropping your salary ( get that in writing because salaries were adjusted for people moving from NY Metro to Tampa) then be aware a high cost resource in a true lower cost area will be cut. C is notorious for asking people to relocate and then cut them. Tread lightly.
Doesn't sound like many people from NYC are being asked to relocate. True?
@c2 yes lot of people let go ADA or older
Jacksonville is medium cost
Given all the comments here, where in the US is NOT high cost? I'm being asked to move out of Southern CA to Kentucky, but I can't imagine waking up every morning in Kentucky and not Orange County. I was told they would not drop my salary. I assume that's a huge bump in my ability to live a bit higher on the hog.
@cq Tampa and Irving are now absolutely considered high cost locations
@ab they are not considered high cost sites. ICRM will no longer hire below a C14 in New York. We were told even C14 and C15 will need justification to be approved there.
@c2 In my career, I have changed jobs every 4-5 years. There should be nothing like 'loyalty' to employers. Sometimes I think this 'loyalty' is more like not willing to come out of the comfort zone and go work somewhere else. Ultimately, in banks that will end up having a price to pay in the form of RIF.
During the first few years of my career, when I was doing contract work (gig jobs as they're now called), I moved to different cities for the next gig. But then, I was in my mid 20's, not married, no home to own, no kids...nothing. Now that I have all that, I can never imagine moving for a job, especially to Tier 2 and below cities where future job opportunities will be limited.
Citi - best year for shareholders - worst year for employees. The layoffs are shattering to loyal employees. Anyone else over 40? Most of the I people I know were over 40 when RIFed. Also let go of the disabled covered under ADA. Corporate greed strikes again.
Stay in NY.
Do not move!
@am I'm one of the posters who posted about this.
Several coworkers relocated from Citi New York to Tampa, sold their houses, changed their young children's schools and uprooted their lives, only to be Laidoff about one year later !
Moving to a low cost location is NOT a guarantee that you will Not be a layoff target ! Moving to a low cost location also decreases your chances of finding a new job or employer because there are simply fewer employers in the Boondocks.
The cost of living might be less, but you're also increasing risks in other ways. So for example, if you move From New York, San Fran, Boston, etc. TO Tampa, O'Fallon (Missouri), Charlotte (North Carolina), etc. there are fewer employers in the latter locations.
You might need to move again or back to a major City or high cost location. Or accept a lower paying job.
I think I recall a post on another topic about someone moving from NY to Tampa on their own dime only to be laid off anyway. There is zero loyalty. None.
Harsh truth is everyone is just a number and none is forever safe from layoffs regardless of location, age, gender, performance, salary, experience, tenure, etc.
So everyone please stay financially stable to be able to survive 6-8 months without a job, keep yourself updated to be able to find another job, stay healthy, and spend some time with your family & loved ones.
There are all kinds of employees & employers - neither everyone is good nor everyone is bad.
May God be always with everyone, praying for all.
Tampa and Irving are now considered high cost locations.