Thread regarding Citigroup Inc. / Citibank / Citi layoffs

But by signing early the clock begins so it was wise to sign in November as firms dont start hiring until the following March... so almost halfway done

My agreement doesn’t have a non-compete clause. I signed mine in November.

By law companies must give you 21 or 40 days I forgot which one, to consult with a lawyer first before signing anything. Companies cannot threaten or pressure you into signing when you specifically request to consult with a lawyer first. It's both your employment, labor rights and Constitutional rights to speak with an attorney.

Citi HR is goaled on getting people to sign whatever agreement sooner rather than later when you get laid off. If mentioned that you’d like to have an attorney look at it then I’m sure its met with “you need to sign this if you want your severance” and “these are just papers to get your severance”.

If you work at Citi, and they have a no compete agreement with a vendor, then that company will not hire you if you are employed by Citi. A position at company ABC opens up, you apply and they note that you work at Citi on your resume, it’d be a “no, we have a no compete agreement”.

If you quit working at Citi or are laid off and then apply to said vendor, is there a time frame you have to wait, no idea.

CTO Stuart Riley went to HSBC for 3 times his base Salary and g0d knows what additional perks and better Bonuses.

Can anybody w knowledge expand on this bc I had not heard of this before.

1. Can you go work to another bank either laid off or by quitting?

2. And how about vendors?

I know that info must be there somewhere on their sites, but non of it is organized in a user friendly way and searches come up with all sorts of old docs.

Their are tons of lawyers who are more than willing to take on a big bank to make a name for themselves. They’d be more than willing to do so on contingency if the case has strong enough merit. Basically, they don’t get paid unless you win. You sue for not only wrong doing but also for inconvenience+ mental anguish+legal fees.

Citi who lead the pack for settling out of court would probably do so under the condition that you don’t talk sm--k about them publicly. All in all, there are options other than just sitting there and taking it. David slew Goliath, if in the wrong, big banks can be slain too in court.

Yes, Citi is a big company but they are not gods and can be made to answer for any wrong doings. The legal system has proven that many times as is evident in the waves of fines that Citi collects each year.

Just FYIi: https://www.nlrb.gov/news-outreach/news-story/board-rules-that-employers-may-not-offer-severance-agreements-requiring

The clause may be there but somebody has to enforce it. It rarely happens.

Wait for the subpoena before worrying about it.

Ok. Then how did Stuart Riley jump ship to Microsoft if we can't work for vendor partners? I'd think his non compete would be more complicated than the everyday employee.

No judge would allow this and they will come back and say you were let go and Citi can’t keep you from working. If you leave on your own free will there is nothing stopping you from going to a competitor unless you have a major contract like Jane, and her directs. They agree to this when they executed their sign on contract.

Unfamiliar with this. Full time employees can’t wort for a competitor or do similar work for 16 weeks. It’s called garden leave

Cant believe. I know many people leaving to Dell, EMC, RHAT etc.

Does the compete clause list the competitors you cannot work for?

They ignore these and don't challenge them.

I can maybe see that if you were trying to leave on your own accord to one of the vendors but not if Citi let you go.

So you are a firewall guy at Citi and you try to leave and go to Checkpoint, um…ok.
vs.
Citi lets you go and has this blanket clause for everyone they partner with that you can’t work for, for a year.

This should be challenged in court. A lawsuit to negate this in addition to covering court cost along with mental anguish.