Since being laid off, I’ve taken some time off and now I’m actively seeking new job opportunities. A recruiter friend of mine mentioned that applicants with a background at Citi aren’t looked upon favorably in her organization, and warned me that this might be the case elsewhere too. With all the negative publicity surrounding Citi recently, I can’t help but wonder if its reputation has really taken such a hit.
17 replies (most recent on top)
I think if you were with Citi over 10 years then hiring managers may be hesitant to hire you because 1) Citi culture is not great so they wouldn’t risk to hire you with that background 2) Way behind Technology so you don’t bring great value to the table
I go hired prior to Citi laying me off I was going to quit the next day as I had found a job 15% increase and title improvement. Citi transformation was so he-l bent on getting rid of me and I was rated a 1 for a bit and am not old that they didn't realize if they had waited a day I was giving notice. Start looking 1 quarter before you think you will get it and I'm above SVP but hearing rhem get ki-led downgraded and given 6% bonuses I thought wow that's a way to inspire analysts.
As far as tech goes…….
Make what we have act, respond, do what the top software & hardware does, without spending money. Implement state of the art tech with the speed, redundancy, error checking with the most secure checks and balances on athentication\authorization there is…..just don’t spend any money. You say it can’t be done? Well, have you tried? I’ll goal you on getting as close as you can to it.
Hire the most talented experienced skilled people there is no matter what. Just don’t spend any money on top salary ranges, bonus’s or raises. Don’t spend any money on training as well. Find creative ways to retain them so they don’t leave for more money.
Let’s form a committee to research as to why we can’t make existing tech act like new state of the art tech in addition to the problem of NOT being able to attract and retain talent. Make sure to give those on the committee a hefty title and salary to match for this multi year long study, cuz its such a big mystery.
Make sure Jane gets her 6% raise though. We gotta make sure she’s in the high 20 millions on salary not including even millions more on stock awards.
So you see it all evens out.
This is total bs. It is the institution that is in trouble. If you are good at what you do having Citi on your CV would not affect you negatively. I agree Citi was infiltrated by many low quality employees, but that is Citi's problem, not a problem of the good individuals. Reality is other companies will now try to take advantage of the desperate situation and squeeze people for lower pay, etc. That is why they say these things.
Citi is not in trouble, but its employees are. We are outdated and struggling to find a livelihood. Growth, Recognition inside Citi is a big "?".
I started with doing bare minimum. Now I am doing very less.
Citi is very much behind. When I joined Citi I was surprised at how dated our systems are and how unwilling the old heads are willing to change. I thought joining Citi was going to propel my career but unfortunately I haven’t learned anything of value in the last 8 years Ive been here. Citi is in alot of trouble.
Any bank experience should be a plus, Citi is way behind Bank of America, and technology is out of date. Good luck to those job hunting, keep looking, glad I am done working.
Citi's outdated technology and business strategies have led to a lack of change and a stagnant work culture. The top management has shifted to offshoring and vendor consultants, leading to reduced project costs and increased micromanaging. Some projects will run in bau, with employees being closely monitored and required to work five days a week. This has resulted in a lack of positivity and a need for more micromanaging and reduced benefits. Citi's decision to run like this is a stark contrast to the company's previous approach, which has led to a lack of innovation and a desire for change. It is crucial for employees to be prepared for this change and openly express their desire to leave Citi.Citi just wants people to leave themselves so they can save on severance.
Yes, considering they see management as being totally irrational and nearly psychotic, one has no choice but to assume this is the culture. Which it is.
Not only that, they assume there’s a good chance you may be part of the problem. Which you may be..
Thanks again Jane et al.
I have applied to more than 50 positions for two months and haven't received any request for an interview. Nothing.
Yes your reputation is tarnished. Citi is a dumpster fire and the world knows it. But you aren't alone. Lots of other Fintech companies are dumpster fires too. I have never had difficulty landing a new position, ever. I have been applying for jobs, often with leads from people in my network. Thousands of applications since January yielded 2 interviews and I still didn't get the job. I have friends laid off from Wells and tesla, same issue. Can't find a job. "There have been swift rehiring of Citi laid-off individuals by other organizations". Please share where there is an oasis somewhere cuz I am not seeing it and there are literally no facts anywhere to support this claim. I have friends that are recruiters and they are all sharing the same story. The job market for fintech - aside from AI - is abysmal - worse if you are from Citi.
Lots of people leaving getting great roles. Many factors at play. It’s about skills, opportunity and timing. There’s certainly lots of Citi people looking for work.
Publicly Jane indicated lots of good people would be leaving. Time will tell if ‘right’ people were kept.
A normal company would layoff the perceived low performers and\or “bad apples”.
At Citi, its a mix of everything with no rhyme or reason such as high performers but are paid too much, high performers who may not be paid that much but have been with the company too long.
The last one, within Citi, insinuates “well they are a high performer but they’ve been here too long which means they are old and need to go” when in fact they still may be young.
Define “too long”, 5 years? 10? more? Define “too old”, 30? 40? 50?
Maybe they hired on at Citi at 25 and have been at Citi for 10 years, making them 35 as a paid high performer. Is that too long? Too old? Too high of pay?
Someone somewhere runs a spreadsheet formula and your name comes up and you’re gone. There is no rhyme or reason. This in itself damages Citi’s reputation as a systemic reliable decision maker. You can read post after post of how Citi HR handles the layoff and even see how incompetent they are at that level.
@ @ecj+1sMWIhAd Nah. The comment was made about Citi the organization, primarily referencing the frequent negative publicity. But since we’re here now, let’s discuss.
It’s intriguing, and kinda funny, that despite consistently high performance reviews, one could still be considered a bad apple. There have been swift rehiring of Citi laid-off individuals by other organizations also which contradicts this. Some were even rehired by other groups within Citi. I also was contacted a couple of times regarding roles within Citi post layoff. Let’s lean into that. If Citi is contacting “bad apples” to return then yes, Citi is lost.
Clearly, the criteria for layoffs extend beyond mere performance. If that isn’t realized by now, then not really sure what to say. This thread isn’t intended to cause discord among current employees. Just curious to know how current employees, aka good apples, feel about the perception of Citi from the outside.
Best wishes with the remainder of Bora Bora.
That’s been my biggest concern…
"letting go its bad apples"
allegedly
citi was/is bad so how can they be trusted with their opinion
of who is bad and who is not
I wonder if it’s the opposite. Everyone in finance & technology know Citi is doing bad and letting go its bad apples. Who wants to take risk in hiring bad apples.
In this scenario even though you might be good. But Citi has tagged you as bad apple.