Citgo is facing a breakup of its corporation due to sales of its parent shares resulting in a possible bankruptcy claim.
Employees may begin to see layoffs beginning January 2024 or even as early as December 2023.
Citgo employees have reportedly stayed on because of a promise by the corporation for a hefty and sizeable severance package if they were to not abandon ship.
1 reply
Anonymous poster, you are correct. Citgo plans to lay people off within a couple of months as they start downsizing, with the possibility of bankruptcy looming in the near future.