Cant count how many "townhalls" and other "transparent" calls and zooms the question was asked since last Sept about what % of employees were getting cut. Every time the response was "there is no %". BS. It's 10% now and it was 10% all along.
I don't believe anything anyone says anymore. All lies
Target level of 180.000 employees includes the headcount reduction at the Banamax bank unit. That unit is to be spin-off, made into a separate corporation, meaning the staff never will no longer be part of Citigroup, yet not fired. That has been disclosed, but some of the newspapers have failed to mention that in their articles, possibly as they fail to comprehend what that impact is. The spinoff of that unit will reduce the headcount at Citigroup by 40,000 people, and meaning while there will be drastic headcount reduction at Citigroup this year via layoffs, it will be not as severe as some of the media sources are stating. Good luck to all.
Why everyone saying 20000 cuts when they have 240000 employees and targetting 180000 in 2026. Citi retention is so low that they let go 20000 and 40000 leave !
They were lying all 2023 saying no layoffs, all is good. Then some layoffs, but no 10%. To now 25,000 will be fired.
I don't trust a word they say. Do you?
Yep, cnbc.com homepage says it all