Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Probably the most stressed I’ve been this month vs 12 years in my career

Been with Citi for over a year and I did well my first year, but I’ve been spending this month weighing why I could be on the layoff list vs why I won’t be. To add more stress, I am the sole provider in my family of four.

I am in a central hub (NYC) though it is expensive. Then again, I’m low on the range of my VP salary. I’m also a hybrid worker so not remote like many on my team.

My job is half controls, half operations. My job needs to exist in the chain otherwise it will mess up monthly deliverables. My job acts as a control but I’m not in an embedded control team that is only busy when things go awry.

I have a lot of downtime some days, but when I’m busy, I’m really busy. If I was to be let go, back up coverage would be difficult and my duties would be spread to numerous people. But are those times of down time enough to justify getting rid of me?

My team has years of experience over me but getting rid of me means they’ll save a bit more on severance.

I’ve tried to read between the lines things my manager says but truthfully I think she has minimal knowledge too and may be as nervous as I am. I feel I’m still over analyzing everything she says.

The sad thing, I kind of like my job here. I had a good first year but still feel I need to learn more to get more out of it so it would be a shame to lose that opportunity if something were to happen to me.

Not looking to spread more fear but just wanted to vent.

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| 1273 views | | 8 replies (last March 18, 2024) | Reply
Post ID: @OP+1rAuoWH6

8 replies (most recent on top)

It sounds like you wouldn't be let go.

It just su-ks, I know 90% of what I do in development will be gone within the next two years, possibly sooner, but I also know that they have many contractors so wonder if the plan was to get rid of them and keep the hires that they want for the long term. It's so confusing and wish we could get reassurance if that indeed is what they meant for us, people that they have been hiring in the short past. It almost feels that way by the amount of people they hired and keep hiring in just the past few months, but it also feels like we won't have anything to do once they do away with a lot of stuff.

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Post ID: @1hpx+1rAuoWH6

@1qch+1rAuoWH6
Have you received severance package as of yet that you can provide timeline for receipt

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Post ID: @1bkv+1rAuoWH6

I feel your pain. I was also a VP and was let go Q4 2023. I was paid on the lower end of the VP scale about 100K in NYC area but was able to manage well. Im also the bread winner with a family of 3 and two live in elderly parents. I’ve found it very difficult to find a job. Ive had 3 interviews and haven’t been able to land these jobs Im guessing theres a-lot of competition. Im still unemployed and the stress has been building month after month. My advice to anyone facing these challenging times is to just apply outside and inside of Citi and if you get laid off at least you’ll have started the job hunt and the chances of you landing something increase. Just for context I have over 15 years of experience and I have a bachelors and a masters. Hang in there my friend these painful moments won’t last forever.

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Post ID: @1qch+1rAuoWH6

Jane is doing this to you on purpose to severance. Not surprised everything is turning into Lord of the Flies at Citi.

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Post ID: @1rhg+1rAuoWH6

There are only a few thousand getting let go this month, the rest is spread out over 2 yrs. And even of those few thousand, many will be overseas, not necessarily NYC. So odds are in your favor. Beyond that, no benefit to worrying about things you can’t control.

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Post ID: @hbk+1rAuoWH6

Worrying will not help you. Remember: only about 10pct of ppl are getting axed, so odds are, you won’t be canned. For whatever reason, if you think you are at a high risk of having your number called, I would start looking for a role elsewhere.

also, if you are truly on the low end of VP, would it be that horrible for you to go elsewhere for 10 or 20% more money?

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Post ID: @lfk+1rAuoWH6

Start reaching out to your professional network asap.

It’s good to keep those relationships “warm”. It’s something I’ve not been good at, but also starting that now

Are you early career (vp?) but you also said you are provider for a family. So depending on your seniority you might have more options to move (internally/externally)

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Post ID: @bwt+1rAuoWH6

If you’re a VP, don’t worry too much

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Post ID: @goy+1rAuoWH6

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