Will it start?
14 replies (most recent on top)
Why are most senior managers getting bonuses, and pay increases when thousands are losing/lost their jobs????
Typically this does not happen.
Whose fault is it????
@pol+1qA0Wr8q I would be more than happy to get the same bonus I got last year, though my performance review was not quite as good as last year, so I am hoping for 1/2 to 3/4 of what it was last year
Your managers knew your compensation back in December. They are lying if they said they didn’t.
Bonus is flat from prior year.
Everyday is a layoff day here at citi.
Guess this week starts the comp $$ discussion and more layoffs day by day.
Job market is a bit sour. Some people have been looking for months and still nothing solid.
$24.5 Mln
Citigroup CEO Jane Fraser's 2022 Compensation Up 9% To $24.5 Mln. (RTTNews) - Citigroup (C) awarded Jane Fraser compensation of $24.5 million for 2022, her first full year as chief executive officer of the company. That compared with the $22.5 million pay package she received in 2021.21 Feb 2023
Has anyone had comp conversations? I only had a review convo on my ratings. Nothing about comp. They didn't know what raises or bonuses would look like tbh.
Yeah, because Jane has always been so trustworthy and honest with us since day one. Yep, 100% transparent all the way, no obfuscation here.
As per Jane:
“ During the week of January 22, we will be announcing the next layer of changes to how we organize and run the firm. This keeps us on track to conclude the reorganization by the end of the first quarter of this year.”
“the net elimination of approximately 5,000 roles, mainly managers. Between the reorganization, eliminating stranded costs, the benefits of the Transformation and other ongoing initiatives, we expect to eliminate 20,000 positions over the medium term (not including employees who will transfer to Banamex as part of the separation and IPO process that is underway).”
To me the above means, mostly 5000 managers and their structures for a total of 20K souls on Q1.
What I heard is that there will not be gradualism, there will be one big layoff event.
They should be making announcements this week. They usually make the layoff announcements before releasing the announcements of the new org changes. That's what they did in November.
TODAY
Comp will be released starting Tuesday and Jan 22nd will start the flow of layoffs . Sad, sad, sad. Still need to trim the fat from the top but it sounds like they’re done with that for now and should expect cuts starting with MD, D, SVP, and VP. Will vary by location, including telecommuter’s, and alignment under the new Org
Jane’s pay increase and bonus will be released to the Feds the last week in Feb 2024. Last year her pay increase was 9% plus deferred stocks and an additional cash bonus that is unbelievable. Google Jane Fraser’s salary
Start? It has never stopped....
Hope it starts this week. I’m so sick of waiting