What I see happening in the future is that citi updates their employee handbooks and cuts severance pay for everybody as this will save them a lot of money. Something like one week severance for every year in US instead of two. Just my opinion.
4 replies (most recent on top)
After reduced severence, work movement to offshore locations then split up and sell more business to positionremaining business for an acquisition
My guess will be one day for every year employed with this fine establishment.
There are no laws in the US regarding severance. citi can do whatever they want. They can change the rules unless you sign contract with them when you were originally employed.
I wouldn’t be surprised at all if this happens next and if they go belly up like Lehman did. their employees didn’t get any severance and were left high and dry. Only the big shots got the money as they knew the bankruptcy was coming, before the bankruptcy, and the little people were left swinging in the wind