Thread regarding Citigroup Inc. / Citibank / Citi layoffs

8K in Citi tech to be let go?

So, going by this:
https://www.efinancialcareers.com/news/citi-s-7-000-laid-off-staff-were-paid-an-average-of-214k-each

“Citi's layoffs aren't over. The bank wants to cut 20,000 people in total, and so has 13,000 still to go, of which 5,000 are expected to come from business divestments and the remainder are expected to come from technology and support teams.”

Backup by this:
https://www.efinancialcareers.com/news/citi-tech-transformation-is-progressing-which-could-be-bad-news-for-citi-devs

“While the danger is still on the horizon for tech staff, automation is a more present danger for compliance. Citi says it is "intensifying [its] efforts" to automate infrastructure for its regulatory processes and reporting.”

This certainly does not bode well and if true, why not leave as soon as you can.

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| 1011 views | | 3 replies (last April 17, 2024) | Reply
Post ID: @OP+1s4qPhBo

3 replies (most recent on top)

We know this.

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Post ID: @1ung+1s4qPhBo

Old news

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Post ID: @1pxe+1s4qPhBo

D, SVP, and VPs are constantly evaluated based on performance compared to peers and deliverables, but many teams are required to operate as is, even with changed reporting structure.

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Post ID: @mqv+1s4qPhBo

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