Topics regarding layoffs at Citigroup Inc. / Citibank / Citi

Topics regarding layoffs at Citigroup Inc. / Citibank / Citi

I smell a re-org in the works…

Usually Citi upper management when faced with not knowing what to do, often re-orgs. They know they have to do something but aren’t sure what, so a re-org buys them some time. It buys them a year in the eyes of the board. Citi is at the cross... — read more 

Citi to hire 4,000 tech workers

https://www.businesstimes.com.sg/banking-finance/citigroup-plans-to-hire-4000-tech-staff-to-tap-into-digital-explosion

Ugly truth

Citi usually manages their BAU people out of fear and are quick to tell you that the pittance you are given for a raise or bonus is doing you a favor. If your role is BAU then you WILL NOT be given a raise to match the rise of inflation. It just... — read more 

Penalty for loyalty.

According to CNBC those that leave their current jobs for another get at least a 7% increase in pay as a minimum vs. those that stay. Given this, it may be time to leave. Citi should give their people a retention raise. Why continue to punish your... — read more 

Your future in your own hands.

Don’t wait around for Citi to pay you more, to offer you more. It won’t happen. The best that management can do is catering to pizza Friday or bagel Wednesday and that’s as good as its going to get. When compared to other companies, it’s... — read more 

Shorter deadlines

Employees here are used to working under stress. Ever since I’ve been working here this has been a stressful environment, but I’ve accepted that as the nature of my job. Have you noticed that deadlines are getting shorter and shorter though?... — read more 

Citi Bonus

Hello Citi-zens I am new to Citi and have heard mixed reviews on Citi's bonus amounts. What are the mystery amounts... AVP - ? VP - ? SVP - ?

More money elsewhere = I’m gone.

Reading article after article after article of companies raising compensation across the board for their employees to keep up with the cost of living. Here sits Citi with nothing to offer. They don’t share the wealth when times are good, they... — read more 

Asked to complete an onboarding survey from Citi.

Are they kidding me? They really are asking for it, because I will give them a negative down the line. Onboarding was horribly slow. Never greeted by my manager on first day. Everything took so long. I don't participate in surveys, but gee. It... — read more 

Mid year raises and promotions?

It sounds like Bank of America and Wells Fargo are at least giving raises. Has anyone heard anything about Citi in this regard?

Unsure about quitting

As I ponder whether a significant recession will occur, I am somewhat reluctant to quit my job here. In the meantime, I see that some are more than ever looking for work elsewhere. How is the upcoming recession affecting your decision about... — read more 

The tables have turned

Citi manages out of fear. They are so quick to say “if you don’t like it, find a job somewhere else”. Now the tables are turned. Management has no idea how to stop the loss of tenured talented staff. If they think that free pizza Thursday will save... — read more 

Plan for growth

I would even consider staying here if I noticed that Citi has some concrete and realistic plan for growth. However, I do not see that leadership has any well-thought-out plan. Please correct me if I am wrong. It used to be a lot different, but... — read more 

Will there be massive lay offs in 2022/2023

Given the sale of Banamex and other businesses within Citi. How will the staff that support them operationally be impacted? Are lay offs in the future? Will Citi offer employees incentives to retire early as many other companies do or will they... — read more 

Here’s a company that appreciate their staff.

Whether you’re a heavy hitter or BAU, work vs reward should be honored. Unfortunately a top performer that does BAU work is neglected at Citi. Not all companies though have this point of view. It seems that Microsoft knows how to take care of... — read more 

The next Citigroup catastrophe in the making?

Citigroup has tremendous Geo-Political risk with respect to its out-sourcing of Technology development and support to third-world countries (i.e., application development teams and application support teams) most of these teams are either out-sourced... — read more 

Citi wage shortcoming galore. Management needs to wake up.

If you have to pay more to hire new employees that means the market has gone up and your current employees need a raise to match. Don't punish loyal employees for sticking with you by allowing their compensation to fall behind the market.

Attrition? Staff shortage? Vs wages

All I hear is that attrition is high with little do no back fill which feeds into staff shortages. Ok, so if you’re down 20-30% to keep what staff you do have, then why not take the pay you wold have given to those that left and disperse among... — read more 

0% Bonus Funanza

I got 0% bonus and I am expected to muster great enthusiasm and long hours for [$$$ mysterious bonus amount] next year? SMH, come on now.

Dead bank walking

How can Citi strive to be the leader in wealth management when we keep making mistakes on the scale of billions. The Revlon debacle and now the Europe flash crash. Naturally this will be followed up with some new initiative on risk controls by... — read more 

Citi just lost its edge

3 days in the office instead of the 2 that was promised. Why should anyone stay here then?

Are cuts really needed?

I heard some rumors about cuts, but I really don’t believe there will be any soon. Possibly we can expect even more pressure on employees, as a result of which many will leave voluntarily, without packages.... I may be wrong, but... During the last... — read more 

Starting over

Once the recession hits and it will, there will be tough times ahead. It will be swift and sudden and very bad lasting about a year. Then with time the market will level out and climb back up. Companies will hire again to accommodate growth.

Rising interest rates with recession to follow

From what I’ve read 8 out of 11 times that rates were risen like this, a recession has followed 1-2 years afterwards. I suggest EVERYONE save their money for the tough times ahead.

We are #2

https://www.linkedin.com/posts/bank-on-our-future_take-the-confidential-survey-now-activity-6922474098782584832-G6Zx

by
| 1064 views | | no replies yet
Post ID: @OP+1gmtwgAy

Employee retention solution

The average loyal employee receives a 2-5% pay rise each year. The average job hopper receives a 10% - 20% increase in salary every time they move jobs. So citi managers instead of complaining about candidates hopping jobs every 12 months, how... — read more 

Citi is a he-l of an investment!

Stock price down 27% in the last year. The CEO may have to step down just to save her own investments. I hope she's putting some money away for later...lol.

Myth

Management at Citi acts if they are the only company on the planet hiring anyone. They try really hard to sell it to the employees to keep them in line. This is just not true. The salaries that Citi laughs at, other companies embrace... — read more 

by
| 1160 views | | 1 reply (April 20, 2022)
Post ID: @OP+1gjrHjWg

They get rid of employees in different ways

I don't know what your situation is like, but personally I've been under heavier load than ever. Faced with abnormal pressure, shorter deadlines, unrealistic demands, increased criticism, I can't conclude anything other than that Citi is avoiding... — read more 

CEO metric not met

Citi stock is at a 52 week low right now. This measurable metric should be the CEO’s primary focus and if it HAS BEEN the primary focus and this 52 week low is the result, then maybe we have the wrong person for the job.

The question is “Why” when it comes to citi.

You are wanting to start a business and are looking for a location. You notice this one store is in a good location but there’s a lot of turnover and you don’t know why. One day its a restaurant, months later a donut shop, months later a nail salon... — read more 

by
| 1080 views | | no replies yet
Post ID: @OP+1gdRhseu

Who would want to work at such a company.

My manager constantly talks about how it is impossible to fine good new employees. I keep wondering If he just pretends or does he not see the real picture. I mean who would want to work at such a company where people are overworked to the... — read more 

Start a new thread - post a news comment, question or message:

: