Would Citi actually terminate people for not religiously following the return to office policy? There are a lot of teams that have a mix of some folks hybrid and others grandfathered in full time remote. Does not sound consistent. There are sites... — read more
Citi Reputation
Since being laid off, I’ve taken some time off and now I’m actively seeking new job opportunities. A recruiter friend of mine mentioned that applicants with a background at Citi aren’t looked upon favorably in her organization, and warned me that... — read more
Next Round of Layoffs
When will they be?
Severance Documentation, when ?
Anyone know when we receive our severance Documentation agreement? Today's date May 28th..
Mandatory rotation policy for vendor consultants
How does mandatory rotation policy for vendor consultants for every one or two years work? This will avoid taking control of the entire project and also hiding the important data about the projects. This will also stop vendor favoritism.
Is Citi eliminating SVP title?
Most of SVP magically promoted to director last week, including some just demoted to I C. Is the goal eliminating SVP title? Otherwise they lost their mind!
Is the reorg done? Why still many group managers still have one to four reports?
SVP being converted to IC with no real assignment to do just got promoted to director last week. What is happening in Citi?
Is citi hiring?
Is there any hiring in technology?
Remote work update
https://finance.yahoo.com/news/citi-hsbc-order-more-staff-212147676.html
Buy the stock, advice worth what you paid
If executive management cares about the stock more than you, go buy the stock and be aligned.
Not shocked with what I observed at Citi
https://finance.yahoo.com/news/ex-citi-banker-says-she-225730781.html former managing director at Citigroup sued the bank and its chief operating officer on Wednesday, alleging she was fired for opposing what she said were attempts to give regulators... — read more
Understanding the Flaws in the 6 to 8 Directs Rule
The implementation of the 6 to 8 directs rule appears to be fundamentally flawed, and it is imperative that the company considers the potential repercussions it may entail. Effective management cannot be achieved when constrained by arbitrary... — read more
Fat finger error….
https://amp.cnn.com/cnn/2024/05/22/investing/citigroup-fine-stock-dump-fat-finger
Citi lawsuit
https://finance.yahoo.com/news/ex-citi-banker-says-she-225730781.html
Good fireside chat with Johnbull in Tampa
Much negativity here which I get but there was some good discussion on mentorship, communication (CITI needs a lot of work here), taking risks in your career and of course dealing with change amid chaos. Gave us reassurance that we are through with... — read more
Citi discrimination
https://www.msn.com/en-ph/money/companies/people-of-the-wrong-race-citi-hit-with-racial-discrimination-lawsuit-over-atm-fees/ar-BB1mJDMI
Here we go again! A trading mistake at Citigroup in 2022 has led to a $78 million fine against the bank.
Citi fined $78 million after a European trader's fat-finger trade caused a flash crash in stocks https://www.businessinsider.com/citi-trader-fat-finger-flash-crash-trade-78-million-fine-2024-5 No wonder they have to keep laying off people.
New manager
Re org gave me a new manager and she’s making my life he-l. She used to be peer. Asking status in every 2 hours. Micro management at its worst level. I’m the only one suffering I feel as I used to be peer. I’m understanding but not sure what to do — read more
It's bullish
https://youtu.be/faEBUH7zCY4?si=Vwz79XIEeBoK6cPD
I am the only one not reporting into the new MD following March’s reorg
How sc--wed am I? My other colleagues part of this new “team” have moved under our new MD while I’m still with my old manager. I noticed over the weekend they updated the other colleague who was reporting into my old manager into the new org... — read more
Layoff Update
Soon next round of layoff from O&T and Consumer Exits Market’s Department. Banamex got delay by 2 months i.e Sep 01, 2024 for Legal Day 1.
SVP promotions to Director over the weekend
Congratulations to all the SVP population who were magically promoted over the weekend creating more D to D layers! Well done you have truly made a difference to the organisation.
How is the US and Europe job markets now? Has it improved?
We talk a lot about job losses, let's discuss the current job market to build a balanced view, it will help us making decisions.
citi push out
EMEA region management actions all are done in one direction push out so many employes as possible I was tagged as a private person meaning i lost posibilities for free investments Same time MD of trading team located in 388g is Public, no... — read more
Has anyone visited a branch lately
Citi is a total cluster. Employees are ticked off, service levels are poor, everything must be done manually vs electronically, and the list goes on. Not surprised Citi is imploding, they cant even get the most basic of retail banking services... — read more
Crypto vs Citi
How do see Citi position while all financial world is going into crypto ? I think 180k will be to much for company like Citi 100k seems to be to much In my opinion banking sector is heading into one big colapse
Citi stock is up, that’s true.
but, in comparison to where we were 5 years ago we are still -1.28% lower. Compared to JPM from the same time frame, they are 82% higher and they are of the same relative size as Citi. So yes, the layoff has made the stock price rise but its yet... — read more
Citi fired Mike Whitaker
Citi fired Mike Whitaker and split operations and Technology. More info to come, so stay tuned.
Sign-on bonus repayment
Did any of you end up repaying signon for leaving Citi within one year? how quickly do they come back with repayment request? Can you opt for installment payments? also what happens to the deducted tax if you end up paying back? thabks a million — read more
Anyone here who got a joining bonuns and left before one year?
Did you have to pay back the joining bonus (Gross)/Deferred comp?
No system
Not layoff related but have any of you been without a system today? I have had a teammate without access since yesterday and today I lost access. Is this just a reflection of what happens when you let go of IT people or are we getting the boot before... — read more
Head of o&t left the firm
So after giving us the great talk about focusing on what we can do to save this company, he left
This is surreal.
I join meeting after meeting and hear either directly or indirectly from various groups (risk, tech, reporting etc…) “x is broken and we don’t care” “this is not working but its ok, we don’t care” . When reported to one of the reporting groups that... — read more
Who works here?
The people I sat around did nothing all day, sat around and chit chatted all day after day, month after months, they had no work, always all caught up. This was the majority of people in my location. I didn't have a spare breath to take during my... — read more
NY only 60 days notice in Buffalo NY
It seems people in NYC were given 90 days notice, and people in Buffalo NY were only given 60 days notice. I wonder why, shouldn't it be the same under warn? Anyone from Buffalo given 90 days vs 60 days notice?
2 big 2 fail
This is a relative statement Truth is not relative Citi is a child of the USA I don't believe that a mother will die for her child when it comes to breathing Not for a child like that