Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Yes, I see nothing good happening to those left behind. Left behind - a time of tribulation.

I don’t know of anyone who feels confident about the direction we are going.

All the managers I’ve talked have said the same thing. The most mis-managed disorganized misinformed restructuring ever.

Been around for decades and never seen the magnitude of this one related to org structure. These Director levels that had multiple SVP staff with a couple of employees under them are going to be under tremendous amount of stress now that many of the SVPs are reassigned or IC.

The whole situation has been a mess. Communication was vague and poor. The messages that came out this week were not straightforward, deceptive, and gave the misconception that this is over. It's not over people. It may not happen in bulk like Q1 but layoffs will continue for 2 years (probably beyond that too).

@zvh+1rM0RUzU I agree. Senior management only care about $$ and themselves. Don't get lured into a false sense of security. It's all for optics. The townhalls, gatherings and all are part of getting everyone back in line to work like good little minions.

This will continue and JF will continue to do as Warren Buffet advised (make cuts). 5k down Q1 and 15k to go over next 2 years. 15K people are not going to leave or retire. A lot probably will go on their own but not thousands and thousands.

The sad part is that most people believe that its all over with.

The biggest mistake that anyone can make is thinking that Jane or HR care about you, they don’t

@xqm+1rM0RUzU

Jane is a McKinsey alum. That tells us all we need to know.

From a laid-off ex-WFC person... I came over here to congratulate you guys on finishing your reorganization effort. After looking at this site's posts I realize this is premature. In some ways, you are being jerked around more than WF (particularly the HR process).
Oh and if any of you guys think about coming over to Wells... don't. Unless you are in India or highly skilled in controlling Indian offshore help I wouldn't bother.
Was McKinsey your consulting partner? Same with Wells.

• from fellow road ki-l...

It's a hot mess!

I submit it was done shoddy on PURPOSE in order to get employees to leave on their own so Citi would not have to pay severance.
Question is, how many employees have left on their own in the past 6 months?

My manager with decades of tenure said this is the worst layoff\reorg effort he’s ever seen. Bungled beyond belief.

Good game to watch for sure