Is anyone heard anything relevant upcoming news from any Org from their Management?
Layoff
Leadership Changes
Mid Year Discussion etc.
13 replies (most recent on top)
If anyone thinks layoffs are over for 2024 think again. Won’t be as publicized.
On Friday, the company said it has laid off or provided layoff notifications to 7,000 employees, bringing it closer to its goal of reducing the staff by 20,000 by 2026. “As we notify individuals, there is a notification period that runs some 90 days,” CFO Mark Mason said on a call with members of the media.
15 Apr 2024
I assume next 7K for 2025 and another last 7K for 2026 respectively.
Any idea out of 20K cut, how many already layoff until June, 2024 ?
If you are not a visa holder you might get targeted. Expect more work and diving into details by management. If you don’t have direct contributions then better start looking for other jobs. BA, Devops might move completely offshore. Management stays. Some business teams might be affected. All these takes time. Note that you are evaluated for your contributions in mean time.
I also worry to take my time off. I notice my manager makes me feel wrong using it. I wonder if it is the right time to take off with these layoffs going on. I know I am entitled to my days off, but thinking about this, what the manager says, goes. He tells her/his story to HR and hr will follow through. By the time you get any news, the decision has been made for you.
I doubt so.my (micro) manager cancelled all the upcoming meetings. Micro management is still on going though. I m fed up and scared.
If there is no layoffs until September, what will happen to the employees that are being passively pushed out. Examples such as given less tasks, lots of idle time, overseas overtaking their work, more micro managing, and no projects lined up once you finish what is on their queue. What will happen to those employees that may be idle before September? Do you think Citibank will lay them off or just fire them? Since lets say they didnt make it to the 29th of june layoff, Citibank will just have them around making their life difficult until September rolls around?
The June 29th layoffs were completed in April already. The 29th of June is their last date. There won't be a layoff until September, as indicated on other thread in this forum. There will be more "US Contractors" cutbacks, and projects removals based on end of consent order and duplication are expected next. The January layoff will witness Performance and will be targeting employees for reducing Severance pay.
Citi has already moved many projects to offshore locations, including India. In addition to a sharp rise in offshore recruiting, offshore resources will eventually replace US resources. Holding project control in the US is always the best option. The more you hold control from offshore the more you survive.
wonder when the train would derail or out of gas/electricity. Even if you get off the train, the runaway train will cause chaos
Layoffs are so yesterday. The train has long since left the station..
This year no more layoff ? Where i can see how many gone from Citi ?
just the 29th of june layoff in nyc office.
Again Reorg? Layoofs?