Phase 4 of 8, has started. New org charts come out mid March, mass lay off happen week of March 22. Approx 45k people will be let go from now til 2026 in O&T alone.. gear up for a bumpy ride. The Brits are winning, no more shadman. Jane lack luster results yet bs 6% while managers forced to give 3/3s across the board with 1 to 3% increased for some. Get out while you can. Citi will be dismantled and sold to jpmc goldman and others for scraps. Failing shesh hole of an organization.
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How did/will tampa aml fiu fare????
There will be a lot of tech roles go. Look at the 100+ pages of tech org charts, a lot of trimming the fat there.
O&T has 65K people.. 45K would be 70% gone.. Not true.. We were told do 7% to 17 only... O&T total will be 10K cut ~ 16%..
Level 9 will be wiped but some exceptions. BCG making managers have 22 directs.. Shadman will be reporting to jane in 2025 Feb. MW will be goner in Dec.
MD here....
Does it make sense to let go 300 MDs to only promote 304 MD recently. Numbers will be less than that due to layoffs and natural attrition, also Citi will higher more as you can see in recent pulling from jpmorgan and offering 8 fig package to new head of bank. Everyone below c14 will be made IC or forced out. With all thr egos here I can see the 180k number being less. Also with culture here you can see Citi lies all the time, take example of Mark Mason misleading investor last year. What do I know, am just a recently laid off employee and MD spilled the beans before their departure.
Sorry, but I don't believe this for one minute. If it were true, it would go against what Jane disclosed to investors on the Q4 earnings call. She said that the target headcount at the end of 2026 would be 180K. Right now we are just below 240K. She said 20K would be let go between now and 2026 and the remaining 40K will be let go through the divesture of Banamex. Unless something has changed between Jan 12 (date of Q4 earnings call) and now, those are the numbers.
MD here and can confirm these claims as true. Phase four was put on hold while legal and he sort it out but it is happening globally.
People just mage stuff up. Click bait trolling.
Put more weight on the Citi Titanic so that it sinks faster. Batter the stock price by getting WARN money, severance etc.. Remember the almost $1 Billion cost Citi got hit with in 4Q2023 because of all of the Layoffs ? Quitting on your own means Citi saves money. Citi is Fvcking its employees and its Laidoff employees. So why help Citi save money??? Do Not let Citi win by managing you out and you Quit voluntarily. By the time, if or when Citi lays you off, the economy will be better and hiring will increase.