@ke 388
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@je What do you mean by July 29th mass lay offs? I thought they are going to be in the future!
The Banamex Sale/IPO still needs to be completed and that will jettison about 35,000 employees.
As of the end of year 2025, Citi had 226000 employees. Including the approximately 7,000 Citi discarded like used Toilet Paper in the first half of 2026, that currently puts Citi at about 219000. However, expect a few thousand more heads will be cut before the end of year 2026.
If the Banamex jettison is completed this year or in early 2027, that will place Citi at its Bora Bora Goal of about 180,000 employees.
Citi continues to hire albeit anemically. And most of the open jobs are for sales-commission based jobs. And so that 180,000 may actually be between 180 and 190.
My MD said 3 years ago that Citi is pruning the tree until early 2027. These are code words for Layoffs.
Citigroup's total number of employees for the past six recorded annual periods ranges around 226,000 to 240,000 workers, led by totals of 226,000 in 2025 and 239,000 in 2024.
Annual Employee Totals
2025: 226,000 employees
2024: 239,000 employees
2023: 239,000 employees
2022: 240,000 employees
2021: 223,400 employees
2020: 210,000 employees
@k1 Location?
Risk got rid of a few C16s in seat less than nine months…
@g8. Incorrect. The WARN notice was included in the email from HR the night of July 29. It was not taken from the Internet.
HR is characterizing the July 29 layoffs as a “Mass” layoff.
I don’t think we will ever know the breadth and depth of what took place on 7/29.
Many are still in shock or some are afraid to report for whatever reason.
I think Citi has been emboldened to make deep cuts as they are sitting on a lot of CASH due to a record Quarterly profit.
However, some of us were doing REAL work that brought value to the Business.
Wait until the fine China starts to crash on the floor. There will be significant repercussions to this action and many Businesses will suffer .
They will suffer due to their arrogance of discarding people as useless trash.
Remember KARMA ‼️
@fj Everyone is laying off. Jobs are difficult to find, most postings are fake to provide an illusion of a healthy business and market, and of the jobs that can be found, most are paying a percentage of what they were 2 years ago. The middle class and American jobs are being decimated. The writing is on the wall. Jane and her ilk of oligarchs will chew on the bones of the middle class while we lose our homes to more oligarchs snatching them up. It's only a matter of time. This regime has accelerated the rise of the rich and everyone else to pauper in record time.
@fj India layoffs? :-P
A WARN notice posted now would be for layoffs in NJ 3 months back. Not the ones let go this week.
@f7
where do another 9K cuts come from? any announcements alluding to the expected reduction levels? I've been trying to summarize all the announcements since bora bora, but it's impossible.
only about 85K out of 226K headcount reside in US and UK (this number doest include stuff reduction happened in 2026) If another 9K are cut from high cost locations it's about another 15% heads.
it's ridiculous that company employs less than 50% of it's stuff in locations it derives majority of its revenue from. even JPM is not that bad.
good luck with it's customer base that will be forced to poverty with this speed of outsiourcing and layoffs. IS and W Europe have already ki-led manufacturing, let's finish the job
@f2 Death by a thousand cuts - literally. While we've seen bigger layoffs and call them blood baths, there is still almost 9k to go to fulfill Bora Bora. That's a LOT by EOY - and make EOY budget. There must be one massive one coming before September.
According to the WARN notice there were 53 people impacted at 480 Washington Blvd in Jersey City on 7/29.
However, it did not give a breakdown of the impacted functions. There are many Tech workers in Jersey City. We’re all the impacted folks Tech?
If you were impacted what is your functional role? It appears that Citi is continuing to move jobs overseas.
I wonder if this location will continue to exist going forward.
@ew Thanks a lot for the information. Do you know if any other departments in London were affected besides Underwriting? For example, Markets, Model Risk, Internal Audit, Controls or ICM?
Yes there have been cuts on Wednesday. People in 1LOD underwriting in London have been let go. The manager went on company laid team drinks and arcade games with another team hours after firing 20% of the team. His pictures were then floated around the whole bank on how much fun he was having the same day. Worst part he told his laid off team members to keep working for a week to complete the month end tasks. Citi is an awful place with no consequences of such behaviour.
Consent order people have been affected and will continue
@a2 can vouch this statement
@ad Tampa?
@a2 Confirm that 2LOD in ORM was hit.
Saw some people getting fired from 2nd LOD, mainly model risk. Also from what I’ve heard, internal audit will get reduced this week (mainly Transformstion part)
No can confirm