Post ID: @9qvv+1vmGDzOl $hittybank = Citibank= Sche!ssebank. Bull$hitbank = Citibank = Kuhsche!ssebank
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When you are moved to a cheaper location. Your comp will be adjusted by cost of living over the time, although no reduce right away.
Too funny. What's the point to keep level and salary and move to lower cost location... XDXDX or keep salary and level and stay in the same location.... ahaha. You really sick. You'll not be able to draw a circle with a glass.
When and what is the title of the meeting invite?
Is it Global or Region Specific?
Re-leveling is all the more reason to get out of the Sh!ttybank Freak Show Circus. If you're re-leveled this means you are Not permitted to apply for one-level up jobs you normally would have been permitted to apply for.
So for example, If you are currently a SVP and demoted, re-leveled down to VP, you will No longer be permitted to apply for Director jobs, when previously as a SVP you would have been permitted to do so. The same for VPs demoted to AVP. You can No longer apply for SVP jobs. You can only apply for VP jobs.
The same for Directors demoted to SVP. You'll No longer be permitted to apply for MD jobs. You can only apply for Director jobs.
This is the CitTrainWreck that will drive out top performers/workers. All that Bull$hit Cheap Talk about "Pay for Performance" is just the typical Citi $hitShow Bull$hit ! The only type of employees Citi can attract and retain are the Low Calliber rejects from Competitors. $hittybank will be lucky to attract and retain Drvg Dealers and Axe Mvrderers.......Welcome to the laughing stock joke punchline of Wall Street ! LMFAO!
Citi has done this before during the housing market debacle. Knock everyone down in either level, pay or both.
Congratulations, you’re now making 10K less than before. Still do more with less, put in those long hours and don’t complain about it.
what is this meeting about? Layoffs?
Citi stream meeting set for 11/19 to discuss. Not to worry though this is a great opportunity to plan for career development according to the email.
Presumably somewhere else.
Post ID: @1zui+1vmGDzOl Either this is a troll question/post or you've been hibernating for the past 2 years. Re-Leveling began 1Q2023.
They re leveled a whole department in March. Everyone was a C12, they all became B12 and hourly. No bonus as a B12.
Any official announcement on this ? What is the source of news ?
When releveling starts?
For the SVP’s who know nothing, put them into the layoff list. Else why keep them around, even with a low rank. Unless the point is to avoid paying severance, and make them leave on their own which seems like that’s what they are forcing people to do.
@1pon+1vmGDzOl, I see SVPs with not even basic knowledge of current technologies and still they want to drive and they dont know what they are talking and what they want. They want to hold skilled resources as proxy and show case their work as their achivements, Now all D/MDs reach these SVPs they dont know any thing.
Keep the same salary level yet lose out on 25k+ bonuses for SVP. Or for those lower than VP it’s peanuts to smaller peanuts for bonuses. It’s not surprising anymore that citi is willing to lose out on SME’s and the people that actually do the work, just to save a little money. They seem to be more focused on the bottom line in the near term.
Post ID: @1hqt+1vmGDzOl Causing the increased exodus is probably what Citi wants to happen in order to get to Citi's target of 180,000 employees by 2026. Right now Citi has about 240,000 employees. The Banamex sale will only decrease that to 200,000.
Some of my co-workers were given a choice in lieu of a Layoff:
- Keep their title and salary levels but Move to a new (cheaper) Citi location, up root their families, lives, sell their houses so for example Jersey City, NJ to Mexico or Tampa, Florida; Tampa to Mexico City, there are other location.
- Keep their salary level but get moved down one title level, SVP To VP; VP To AVP, etc.. and remain in their current location.
Most of the people I know who are in the above situations are actively searching for new jobs and literally have the "Open to Work" tag advertised on their Linkedin. They do Not give a Sh!t who sees it including Citi HR or their managers. But then Citi probably wants this to happen anyway and its a method to drive employees out without having to pay Severance to employees Citi wants to layoff anyway.
I heard that rumor too of this going on. Perhaps at year-end? Google “releveling corporate” for the definition. The specific use case I heard was of SVP moving down to VP. Wouldn’t be a surprising next step given all of the ex-managers converted to IC. But such a change like this would do nothing except drop morale even more and cause an even larger exodus.