Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Citi upper management plan is as such.

In no particular order…..

Go forward, no I mean back…trim back but grow, buy this tech but only the cheap version with limited functionality but make it work like the expensive enterprise version, have redundancy unless its expensive, then have cheap redundancy, skill up our people unless it costs a lot, when you do skill them up do it 6 months to a year before you use the tech you are skilling them up on so that they forget. Hire top talent but at the cheapest salary you can so that they either lie about being top talent and stay and produce nothing or are actually top talent and leave later on when they find a higher paying job. Rule out of fear, make sure you capitalize on the desperation of the employees. Those single income employees who provide for their families and\or those who desperately need the insurance are prime targets. Use the fear of laying off to squeeze in those extra extra long hours everyday and still don’t reward them at the end of the year. At the slightest hint of displeasure remind them that they “need” this job. Make town hall meetings vague. “Things are happening” “trimming down may or may not happen and if it does it may or may not happen now or later” “layoffs may or may not happen with ‘x’ team or maybe some other team”. Keep the message delivered uncertain.

The plan is chaos mixed with the truth mixed with bad decisions.

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| 1091 views | | 8 replies (last November 26, 2024) | Reply
Post ID: @OP+1vEN6Re7

8 replies (most recent on top)

Regarding the Moo Moo article about Johbull Okpara selling his stake in Citi, that may not mean anything. Okpara left Citi to join BoA in September. It can simply mean a personal decision to invest in his own new loyalty rather than rewarding the old. It's like the people who got laid off from Citi closing their Citi accounts, that could simply be a personal and not a market-driven decision.

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Post ID: @2yhy+1vEN6Re7

Post ID: @2aym+1vEN6Re7 Citi may still do Layoffs just Before Christmas. Companies have been known to do this. Companies/Employers are cold, callous and brutal. We're all faceless numbers and they do Not Give A Fvck about their employees, No matter if the employees are the best workers in the Companies' history or if we brought in Trillions of $$ in business.

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Post ID: @2uoc+1vEN6Re7

I was waiting for USA thanksgiving layoffs, so far it seems like anyone who was going to be laid off that time has some breathing room. Been at the edge of my seat for so long waiting to hear when the next wave is going to be, that it is causing me to get numb to the situation. I probably would not registered that I got laid off when the time comes if I am on the list for how long I waited to hear. I would probably ask the person in HR to repeat their statement.

I just continue to do my work tasks working late and on weekends, business as usual until my demise. Who knows when that will be.

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Post ID: @2aym+1vEN6Re7

Here we are waiting for the good ole pre Christmas layoff.

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Post ID: @2ftj+1vEN6Re7

I have several weeks of vacation time built up. I’ve already had one manager suggest that I just continue to work and not take off the vacay and when it rolls over, just go ahead and forfeit it to Citi. Basically head down and work work work.

I have a free consultation appointment with an employment attorney next week. I believe I’ll be punished or retaliated against if I take off my vacation time. If so, I’ll take Citi to court and sue for punitive damages, undue stress and legal fees.

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Post ID: @1ofq+1vEN6Re7

What’s sad is not that it’s brutal but sad that it’s true.

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Post ID: @osq+1vEN6Re7

Wow. Scary

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Post ID: @sox+1vEN6Re7

https://www.moomoo.com/news/post/44537883/citigroup-insiders-sell-us-3-5m-of-stock-possibly-signalling?level=1&data_ticket=1732472050210934

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Post ID: @fmy+1vEN6Re7

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