My wife lost her job three months ago. She worked there nine years. We have four kids. If I get laid off, we're ruined. Please share real information. I just want to provide for my family.
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I understand being scared about layoffs. It happened to me at Citi and honestly most of the people I worked with at Citi have been given the axe over the years. Do not be afraid to see if you have a fit in other departments if it happens or if you see the axe falling in your area. Never stop looking for new positions because company loyalty does not exist. Keep your Citi email contact list at home so you can use it even after they shut off your intranet access (happens the first day you are laid off now).
Take a deep breath and pray.
Hello, HR & Citi Cheerleader!
Severance is only 2 weeks for every full year of service. And so if you worked for a fraction of the year including up to your notice/termination date, the fraction doesnt count.
Example: you worked 5.5 years. You'll only get 2 weeks salary x 5 years = 10 weeks salary.
Citi's envied competitors, you know the financially, operationally and technologically stable banks, count and include the fraction of service year when giving out severance.
If the OP is not a troll and his post is for real, honest, his problem should serve as a lesson to everyone to be careful of when, at what age and financial level you're at when you decide to have children.
Children will tie you down for the rest of your lives. And single women, divorced or otherwise statistically have a 98% probability of being in poverty if they have children.
All relationships can turn on a dime including but not limited to marriages, friendships, your relationship with your relatives, employers etc..
Ever heard of birth control?? They exist for Both men and women.
Lesson here is do NOT have more children than you can afford to feed because a medical illness in the United States can easily put you in debt or make you bankrupt due to our FOR Profit Healthcare system.
And just because you have a high paying wonderful job/employer today this doesn't mean you'll never get Fired or Laidoff in the future, or find yourself job searching for months or years.
I myself am p!ssed. I’ve been asking to be placed on the layoff list for over a year and they’ve yet to do it. I don’t know what the magic thing to do is to get it done but I wish I did.
They laid off too many people this year. Many Americans lost their jobs. This is a disgrace. Write to your Congressman and Senators about unethical work practices. Report to media about these silent layoffs The ethics and HR teams are a joke!
DO YOU NOT HAVE 3-6 MONTHS OF OPERATING CASH IN AN EMERGENCY FUND? That's the first rule of working @ Citi, have a back-up plan! If not, halt all IRA/401K contributions until you do.
@OP how long have you been at Citi? The good news is that our severance package is really good. Search Citi for You for separation pay plan and read it for yourself. If laid off, you will still get a paycheck for two months. On your last paycheck you will get paid for any accrued but not used vacation time. You will also still get your 401(k) match next March. Beyond that you will get a lump sum of one paycheck for every full year you have been there.
@OP I met my wife at Citi too; she was laid off around a decade ago. Things worked out and Im glad we work for two different companies now. Good luck, the only advice I can give is don't let uncertainty ruin your day to day.
@OP this is exactly what is being pursued. Carefully RIFing people by “death by thousands cuts”, ensuring panic to increase attrition. Not even communists achieved this level of ruthless and fear.
Apply to everything and anything that you are remotely qualified for. The job market has been good the past couple of months. It’s a numbers game. Have a back up offer even if you don’t take it. Same advice goes for your wife. When I was laid off I applied to over 1000 jobs in 3 months. By the end I was able to land an offer. Good luck!
OP -
Nothing to add other than don’t let this eat away at you. You could be laid off / you could not be. Worrying about things outside of your control isn’t helpful (I know easier said than done)
Keep your resume updated. Keep your network warm. Let people know you are looking.
Is it a terrible market out there? Yes. So start laying some groundwork now
I started at Citi in 2009. One my biggest regrets in life was obsessing about getting laid off (I was single) and letting that anxiety cripple what should have been a fun f’ing few years in NY
Both of you work at Citi?
Don’t let management know how desperate you are. It will be used against you.
We can ask extra extra extra of this guy, he has no choice but to deliver as he’s desperate.
If you are thinking that it sounds like a bunch of predators looking for weakness to exploit, you would be correct. If they know your situation, they will pile on more and more work with an implied “or else” at the end. Be careful.
Learn to code