It has begun
35 replies (most recent on top)
Relationship managers are also affected. Buddies got the package today
Yes there were layoffs in Internal Audit!
Some samples this week. Next week is going to be major storm. Jan 22. mark the day
Anyone from internal audit laid off?
Yeppp I’m a VP in Jacksonville, FL - hired just before the restructure was announced for ICG Risk & Controls and got my notice today 🙃
Not heard of any in Technology in Tampa and Irving
What dept(s) in FL?
@ngk,cnot so much within days, but did have a comp discussion at another institution and was laid off two months afterwards.
Survival is not success.
The layoff is going to happen in batches. If you survive today, you might be target for next week or the month later.
More over, Some projects are pending for Dev completement for 6 months. Once done, they will be layoff's in 6 months. In any way, better to wake up and brush up your skills.
Don’t think its an oversight or mistake. Its all well planned.
Of course severance payments are delayed. The money is not there. The longer they can hold off on the payout, the longer they can draw interest. I suspect they will withhold severance just as long as they can before it crosses the line of needing litigation. All in turn to get the interest and for it to be enough of a frustration point to where they go and find any job at all to make ends meet. The Citi way.
Curious, has anyone had their comp discussion only to be told they're being laid off in the days following said discussion?
Severance payments are getting delayed. Some of of colleagues who got laid of last November not receive Severance payments yet.
Divide and conquer is an old strategy to keep people in the dark. Citi has not been transparent. Many people will leave in the coming years once the job market improves. The idea that AI can replace workers won’t work for another 50 years. They have been trying to get rid of programmers since the 1980s. Perhaps the only job that AI could do much better at Citi would be CEO. Apparently it doesn’t require many skills.
In NY/NJ so far mostly directors. In ICG.
Which areas of the firm? Sorry to all affected
How bot the dirty D ? = delaware
What level and group in NY/NJ?
It is happening. NY/NJ too.
yes, it's true. Happening in FL too :-(
@lke+1qCcQgV4 Thanks for the info. Really sorry about your situation. All said and done, Citi's people are the best and it is Citi's loss.
@ewk+1qCcQgV4 STL being the Saint Louis office. They were part of financial planning I believe. My bad it looks like w word was left out when I posted. Meant to say "An entire team" not my team. The mood is all sorts of sad/bad and rumors and worry going around as to who's next.
My manager just informed me she's been eliminated- NAM, manager is a Director. Client org.
Sorry to hear folks. What is meant by STL? (Senior Technology Leadership?) Which region is this?
Again. Sorry to hear that you are laid off.
I can confirm the post is true. I just got laid off…. It su-ks!
STL rep here. Entire team was laid off here. They're hugging it out and discussing options/next steps before they're out. We think more stuff is going on since the brown bag lunch meeting was post-poned due to probably a few more going on here.
Post ID: @iem+1qCcQgV4 : As if anyone cares about contractors. Self-employed are leeches in the UK and do it only for the tax benefits... The government has no guts to close the tax loopholes unfortunately...
UK. Contractors were letting go. But both have already found new job.
These generic comments are not helpful, how about include region at least, and possibly location would help
Huh? It started about 4 months ago
Happening in UK - I know someone that have been let go
Good luck everyone!
Yes, happening in APAC now, there are 2 phases. I know of several who have been told, and end date is either end Feb, or mid March. There are more to come.
which region/country?
Good luck everyone. No mater what happens take some time to reflex and digest the news.
which region?