Thread regarding Citigroup Inc. / Citibank / Citi layoffs

You are fully correct @OP+1vuCAltq . We just had a Townhall with an MD, which bluntly mentioned that there will be no in-seat promotions, cost cutting initiatives are progressing, which implies all of your statement. Calibration meetings are being conducted, and the majority of staff will be rated average, which is 66% of the workforce. Minimum room for any exceptions, minimum room to plan a career if you're not in one of the major hubs or service centers.

@4grm+1vuCAltq
I get it, sometimes its better not to let the family face the reality of the issue so their lives don't fall apart. Pretending until another job can be obtained and work without any interference with the family. Dip into saving and keep everyone going.

Post ID: @4xor+1vuCAltq This reminds me of a former Co-worker who was Laidoff but didn't tell his wife or family. He pretended to go to work every morning.
What he was actually doing was parking his car in a large shopping mall parking lot several miles away from his house that he knew his wife and family do Not shop in. For 9-10 hours per day, he would sleep or read in his car's back seat. Then after 9-10 hours he would drive back home. This was over 20 years ago Before free Wi-Fi was available in shopping mall and McDonalds parking lots. And so, he didn't bring a laptop computer. At least he could use the mall's bathrooms.
We, his former co-workers told him that he could use/spend some of his days going to the Department of Labor Unemployment Office where he can use the computers and job hunt, print out resumes and make phone calls all for free. His taxes already paid for these social services! He stopped communicating with his former co-workers and so I don't know whatever happened to him.

Everyone, including "managers" in all companies should watch the movie, "The Company Men". Ben Affleck and Kevin Costner are the lead/main actors. This movie is relevant, poignant and relatable, especially to employees.
One of the characters (Not Affleck or Costner) loyally worked at the company for 30 years and moved up the ladder, only to be thrown out like a piece of faceless trash and Laidoff. Ben Affleck's character fell for the trappings of being a top level company executive until he was Laidoff. He spent money like it was growing on trees, but eventually had to sell his toys, Porsche etc. even his large house, move his family in with his parents, and take a manual labor job at his brother-in-law's company.
Take note that neighbors, relatives and friends are nosy and suspicious by human nature and most have Schadenfreude because everyone is your Competition. People can tell if or when someone lost their job. One of the characters had to pretend he was going to work everyday because when neighbors see your car is still in the driveway or garage several days per week it most likely means you're Not working.

Someone please remove the incompetent Peter Holden. we need a new generation of leaders!

Even Copilot thinks more layoffs in Q4 (no specific number though). It is usually right before the holidays like everyone else said. Who knows specific dates or when and don't bother asking your manager.

My manager blows smoke all the time and has upped micromanaging us much more so in Q3 (status report and ton more meeting/check-ins). This place so behind the times. It is still a PowerPoint, Excel driven, info hording organization. I'm not surprised it has huge fines and regulatory scurrility.

Nov 15th of last year was when the layoffs started.
I believe there’s a better way than to let peeps go right before Thanksgiving or Christmas, I just don’t believe that Citi cares enough to do it, try it which is sad and cold.

“the clown car that is Citi”….well said sir.

What bothers me the most I guess, is that there’s been more focus on pronoun enforcement rather than obtaining market share and more customers from competitors.
Its as if there’s no other plan in the works and to suffer for it, we layoff.

Not really a rumor anymore, we've already had a call with our manager that everyone can expect no better than a 3-3 rating, promotions are really limited compared to prior years and that raises and bonuses will be in the same crummy range as last year. Sr Mgmt wants people to leave even if it means high performers leave. With 18 years in, I am one of the lucky ones I guess just hanging on for a severance package waiting to exit the clown car that is Citi.

Typical $hittyBank moves. It's the laughing stock and joke punchline of Wall Street. In November 2023 $hittybank Laidoff 300 MDs only to promote in December 2023, 310 Directors 90%+ of whom are Dod0 Bird incompetent, to MD. In Citi or rather $hitty "Math" this is a win and saves money!