What is this about?
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I don’t see any such meeting invite, it seems fake news.
What will be the kick in the b***s is if all this unfolds, re-leveling, lower pay, no bonus, no raise, tighter budget, lower title, etc…is all done and then later…..BAM!!!!! Jane gets another raise.
I believe all this is being done, risking the lower quality all to just attrit people out without having to pay them any severance.
I think lowering grade in same team/org will not happen, but the expectations for contributions are definitely getting tougher. VPs and SVPs in technical roles now need to show what they’ve done technically, not just manage people. Directors and MDs are being pushed to focus more on boosting revenue and cutting costs. People might be asked to leave or join other team/org for lower grades.
Budgets are tighter, so there’s no room for people sitting idle anymore. There’s also more shuffling at higher levels to make sure projects are covered. Hiring contractors is being watched more closely too—offshore hiring is being prioritized over turning U.S. contractors into full-time employees.
With all these changes, I’ve noticed project quality is slipping, but it seems like no one’s paying attention. The main focus right now is just on getting things done, without much thought about the bigger picture.
When and what is the title of the meeting invite?
Is it Global or Region Specific?
all this rumour?
It means more reduction of people whose jobs can be done solely by LLMs and fewer reduction of people whose jobs cannot be done solely by LLMs.
Reduction in title and salary based on how much of your responsibilities can be done by LLM. All this until Citi is hit by the next round of regulatory fines due to errors by LLMs :)
It means a demotion, most will take a step down in level, pay and title. Discussion been on going since a a week or two now after recalibration talks. Most will be 3/3 and 3/4 to ve walked out or no bonuses and 1% raises at max.
May be most VPs moved to AVP and SVPs move to AVP, some time your reportee may become your manager who knows.
What does non contributing mean in this releveling discussion. To the original poster does releveling mean? Downgrades in title from VP to AVP?
Is this relevel changes AVP to VP and VP to SVP etc as well or only demotions?
There is going to be heavy changes in VP, SVP and D levels. The next level of list is prepared at VP level for non-contributing candidates and possible replacement in low cost zones. Expect something from next Jan till march.
Means more employees getting cut
mostly people in Belfast will be re-leveled.
Every one received this meeting? Or selective?
It’s a career development meeting. They’ll be telling some of us in a round about way to expect to develop their career somewhere else.
I’ve worked at 3 fortune 100 companies and a couple of othe r sizable ones. I’ve heard of it but never experienced it before. Buckle up butter cups - it’s going to be wild. On the plus side hybrid worker can WHH last two weeks of the year. So there that.
It means you better grease up!
need details
Finance
No idea what you are talking about. Is this specific to your area?