Haven’t heard anything…. No emails …. No chitchats ….. hope it’s like done in the morning.
I feel sick to my stomach
This will be a long day. Then we'll have to go through the same thing tomorrow and the day after. Can somebody please tell me when did it become acceptable to treat your employees in such an inhumane way?
Good luck
I am writing to express my sincere concern regarding the recent layoff announcement at Citibank. This unfortunate event will not only affect the NYC economy but also many other regions. This is especially concerning since we are approaching the... — read more
Citigroup employees brace for layoffs, management overhaul - sources
NEW YORK, Nov 20 (Reuters) - Citigroup (C.N) employees expect the bank to announce layoffs and senior management changes on Monday as part of its biggest reorganization in decades, according to five sources with knowledge of the... — read more
Tomorrow …. Good luck everyone
Dreading tomorrow but also wants this week to end already …. Just give us the list rather than spreading it out ….
Be prepared now
Make sure you have a copy of Citis Handbook which has all pertinent phone numbers as well as severance info that citi has to abide by since it is in writing. Also make sure you have your HR person’s phone number and email and their managers and... — read more
Don't quit
I have a feeling that prolonged layoffs are a way to destroy morale, create a toxic environment, and have us quit on our own. Unless you absolutely have to, please don't give them that satisfaction. If they want me gone, I'm sure as he-l going to... — read more
Are we mostly done?
I'm assuming that the majority was already laid off this week, and the next week will be just those who were unavailable for whatever reason. Am I wrong in assuming this?
HR needs to go
How has Sara Wechter been allowed to create such an absurdly overstaffed organization? HR literally has MDs reporting into MDs reporting into MDs. Who's idea was it that HR needed so many MDs in the first place? What exactly do these people do. ... — read more
"Citi to cut 50% of internal financial management reporting and Centralize Decision Making"
The statement is all over in the news links. Which teams do they mean by Financial Reporting?
Start the job searching now.
It takes a long time now for resume’s to be vetted and to get an interview. Start looking for a new job now. Months sometimes. If you get let go now or in December or Jan, you already have submitted your resume to other jobs. You’ll already have... — read more
There is a growing calls to remove Jane Fraser, is it because she is a women?
Calls to remove Jane Fraser is growing by the day, is it because she is a woman? This would not have happened if she was part of the boys club!
WFH on Monday so don’t have to be walked out of the building? 👀
Should I work from home on Monday? I just don’t want to live through the humiliation of having to be walked out of the building lol
The history of Citi
The 2007-2009 crisis destroyed Citi. It’s just a zombie bank . Citi received 2 trillion bailout and the stock is still down 90 plus percent . However you slice and dice it . The mortgage crisis that started in 2007 was created by lax and bogus... — read more
Media Coverage
Let's use this thread to share any good articles we find
According to FT Mondays the big day
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up... — read more
Failed leadership
With the level of verbal abuse, retaliation, unethical practices and old-school leadership I expect all who don’t join their train will be let go. I know many hoping they will be let go with a package of any sort…
Expose Citi leadership that has lead Citi into crisis
Citi is where it is now because of failed leadership. Citi leadership lacked sound strategy, no vision and they are utterly in competent. Now as a last resort, Citi is laying off people to overcome the shortcoming of poor leadership. Basically... — read more
Any layoffs in PBWM yet?
Anyone hear about layoffs in PBWM yet? It’s been extremely quiet last few days which is strange…
Any ICG exit predictions?
What are people who work in ICG doing now that all the committees have been axed? There are such high numbers of MDs- surely a lot of layoffs in that area?
Scary friday
I am Scared to go work today. Applied sick leave
Layoffs in Market Operations
Has anyone heard of any over the last three days?
Impact on teams that are currently short staffed
Was wondering if many teams within finance, tech, internal audit, compliance etc. That are currently short staffed, would there be many layoffs? Was wondering what can happen if cuts are made within teams that are short staffed already?
Chief of Staff being laid off
Are they being rolled into other roles are they just gone? What will MD's do without them or are these getting the axe when their MD's do?
Silent layoffs
How is this being kept so quiet? Are they asking the people who were laid off to not talk about it or something.
Any O&T layoffs this week?
An information on O&T layoffs? What about ISG and CTI?
Is WARN applicable to TX based employees?
Been trying to google it but getting conflicting info that it is applicable but somehow it isn’t in some cases. Friend was laid off during mass layoffs in another company in TX this year and didn’t get anything
What would you rather have happen and what should alternatives be?
A quick one shot layoff all the same day such as Goldman did, or long drawn out layoff that citi is doing. When Goldman laid off all those people, everybody was very critical of it, but I wonder which is worse.
Will there be any official communications?
Is anything going to come out this week via email on what's going on? Seems strange to have to hear rumors or media coverage.
Quiet Thursday morning
Haven’t heard anything yet …… Just the waiting game is so painful
HAVE THEY STARTED ON THE FRAUD DEPARTMENT YET?
So haven’t seen any emails or updates about restructuring yet. Does anyone know if they started laying off the Fraud Department yet?
Current total
How many were cut on Day 1?
My team was already affected
I'd like to think that the rest of the team is safe but it's still hard to fully relax. Our manager didn't say anything but isn't it usually that once a team is affected, they are done for that particular round of layoffs? Or am I just imagining... — read more
Post after post after post is right. Jane is out of options and its crunch time for her to turn things around.
She created the bloat with massive unneeded hirings to push her political views, now to offset this bloat, people have to be let go. ... — read more