About as exciting as working for Walmart. The two companies r not that different, both r lousy.

Citigroup was the only one of the large banks to report a fourth-quarter loss, of $1.9 billion compared with profits of $2.5 billion in the 2022 period. Revenues fell three percent to $17.4 billion. The results were weighed down by costs including... — read more 

Currently employed in a specialized dept taking calls. I work from home. I don't see much on this board about the call center, but more so the actual bank. Anyone on the phones let go?

You know what p–s me off the most? We are disposable. Fine. We are usually the first budget line to go when there are cost cuts or reorg. Fine. But then nobody should expect us to bring expertise to a job. I haven’t had a feeling that I had learned... — read more 

Will it start?

So Citi has a no compete clause to where you can’t work for vendor’s that Citi partners with for 1 year after being let go. The main problem with this is that Citi partners with everyone. Microsoft, Dell, vmware, Cisco, Veritas, Crowdstrike... — read more 

No matter what your role is or which level you are, at Citi, you are disposable or replaceable for whatever reason at any time. If you have somehow managed to convince yourself you're safe, think again. I'm not saying this to be mean, I just don't... — read more 

How long have you been looking? Let's help each other to move on.

Make sure you can pay for at least 6 months worth of mortgage/rent payments and other monthly bills to bridge any gap you may have in employment. Its going to be harder now to get another job than in the last several years, so make sure you can wait... — read more 

My department is being revoked and merged into another. I have been offered a new role , do I have the right to accept or refuse the new position they offer me? If I don't accept it, will I get severance?

) As an insider, he sells his stock well below TBV and way above today's share price. Then, he states that he backs Jane's reoranization plan. ) Mason had no clue on Citi losses in Russia. Citi was then placed in the penalty box on its Living... — read more 

She is being used to force this change and then she will graciously retire with the achievements of being the first female CEO, pushing DEI up everybody’s ar-e and executing the biggest transformation in the past 20 years. The next person will have... — read more 

What about the revenue generating teams? Get off your high horses and make the bank some money! Citi is here to generate revenue for shareholders. The buck falls with these teams. Guess all these "elite" Universities we target aren't delivering the... — read more 

Hopefully Citi (and other western corporations) will finally realize that hiring 10 low-qualified people to do the job of 2-3 highly-skilled people in EMEA/NA is not the way forward. With salaries growing in India/China/etc. this finally become a... — read more 

The main reason for laying off only 5k people in q1 is the money! We cannot afford to spend $1.2 billion more to layoff 15k+ more people. It had costed $85k per head, on an average, to layoff 7k people in 2023. So, Citi has changed the game plan... — read more 

Fraser repeatedly said this will all be complete by Q1 2024, but now all of a sudden, it's through 2026. Anyone surprised?

When will we finally find out exactly what is going to happen and when? The wait is becoming unbearable.

Been here 5 years, find it much better than where I was (another bank not be named). Culture is so much better here. Maybe I'm lucky and in a good spot, but I am very excited about the future. There will always be folks who aren't happy with their... — read more 

My boss told our team that he expects the bulk of tech layoffs to happen in non-strategic cost centers like Singapore, Dublin and China etc. He thinks that people will be safer in certain designated hubs. He attends in a lot of the TTS Tech... — read more 

The employees are not skilled enough and the company hasn't put any effort to build up both Business and Technical skills. Doing politics and relying on consultants or contractors won't help much. Real talented employees are not respected and are... — read more 

Part of the fault lay with adopting to Citi’s work culture. The work culture is to put in extra extra hours. This is a drive to do more with less. It gives the impression that we’ve got enough people. If going forward every employee ONLY worked 8... — read more 

It is obvious - people at Citi are just not as smart as the people in other places like Goldman or JPM - simple as that. Mark Mason is a graduate of the world-renowned... wait for it ... Howard University :D:D:D I can see that in my colleagues - 95%+... — read more 

Take a lesson from Citi and follow Citi’s lead. Give Citi the same amount of loyalty as they give you. Show as much competency in your job as Jane does hers. Show as much expertise in your role as the CFO does in their role. Care enough about... — read more 

https://m.youtube.com/watch?v=Muw0tWlvdYw It’s frustrating to listen to such interviews. The lady asked a straight forward question - where are you going to extract the most resources from and he is… you listen to it..

For some people the current cuts will serve as a wake-up call. Due to the easy money that was printed in the past 15+y, many people had a pretty good ride without putting either the work or having the education needed. People like project managers... — read more 

I know upper management could care less but board really should give this site more than a passing glance. Some of its good, some bad, some fear mongering, some outright wrong and some outright true. I guess the challenge would be how would you... — read more 

If you’re let go, you are on the job hunt. If you are not, then you’ll be expected to pick up the slack for those that were let go, which means double the hours but certainly not double the pay. Your raise and bonus (if any) will be at the absolute... — read more 

Seriously, they have boiler plate layoff templates, so you don’t need HR for layoffs. They have automated processes that scrub resume’s, so you don’t need HR for that. They have HR chatbots to answer basic questions, so you don’t need HR for that... — read more 

Going to be bumpy.....

I need countries, levels (C13-15), and sub-divisions (credit, market, ops etc). Thanks.

https://www.cnn.com/2024/01/12/investing/citigroup-layoffs-earnings/index.html

Can anyone shed light on what the severance packages are looking like? I've heard from past layoffs that it was a couple months of pay (while possibly still working there) and then 2 weeks for each year worked (capped at 52 weeks). Is still... — read more 

There aren’t 20 thousand VPs and SVPs in the tech arena. Citi wants 24x7 coverage on all things tech but does not want to staff for it, so they run lean already. The true problem that they will run into is that: a.) The tech sector has a very... — read more 

Cant count how many "townhalls" and other "transparent" calls and zooms the question was asked since last Sept about what % of employees were getting cut. Every time the response was "there is no %". BS. It's 10% now and it was 10% all along. .. — read more 

The mentality of “bringing in the new and managing out the old” pertains more to management than the regular employees. You have the old guard in play with old guard thinking. We need leaders who can think outside the box, innovate, and that are... — read more 

https://www.reuters.com/business/finance/citigroup-sees-headcount-dropping-20000-by-2026-2024-01-12/ So will this negative layoff environment continue for 2 more years? If 20k layoffs by 2026, any idea the % next week vs next 2 years? For example... — read more 

If the plan is to announce 1/22, bad news will be shared privately next week.

Most SVP's will be eliminated. SVP's will be moved as Technical resources than Management resources.

Is Jan 22 the so called medium term? or sometime later?