Post here if you hear of layoffs today, or if you get the dreaded “catch-up” or whatever meeting on your calendar. Try to include location, org, etc. support each other and stay informed!
102 replies (most recent on top)
The Department of Homeland Security and the Department of Labor should review the breakdown of citizens versus non-citizens affected by recent corporate layoffs and promotions. This data should be readily available from human resources to help determine if hiring and reduction practices disproportionately impact domestic workers.
It looks like invoice processing was cut. I had heard in May that their Mumbai contingent was being doubled. Last week, I heard that one was sacked and other people I worked with are "presence unknown" on Teams.
All RIF'd employees who are voluntold to complete work should Sabotage and Fvck Up the work!
Citi Fvcked You. So Fvck Citi back !
What makes Citi or any other company think or believe the employees whom Citi put Kn!ves 🗡 in their backs willnot Sabotage work or delete files ??
I'm surprised Citi is still allowing network access for employees Citi Fvcked Over.
This is why most companies cutoff network access almost immediately. To prevent Sabotage, deleting or stealing of files/info.
Send the photos, videos and info to the media.
You can report it anonymously.
I did this to a former employer.
I sent the photos and videos to several media outlets. NOT one of them disclosed my identity.
When companies have Layoffs, bad managers, bad policies, low salaries, no promotions etc. their employees become Trojan Horses. And also do the bare minimum work and doNOT disclose trade secrets to their competitors-coworkers.
Forget about their competitors Goldman Sachs, JPMChase etc.. The companies' worst enemies are inside.
You better believe the company and their PR team were freaking out and embarrassed as H3LL. LOL!
The photos, videos and news articles written by numerous journalists are still searchable, Google-able on the Internet.
I'm obviously Not going to divulge the company's name in order to protect my identity.
There has been total lack of transparency on the 29 Jul layoffs. In other departments , target numbers were published way before. And the process of determining skills was also published. The whole process was transparent. In ICM layoffs, no knows when the next bullet strikes. In the town hall management dodged the question repeatedly. They are all a bunch of liars. ICM underwriters add value to lot of product partners. Yes it is credit process. But it does create capacity , risk manages the exposure and keeps regulator at bay. It is the ICm management that is the Corproate fat. In my 5 years of ICM I have not once engaged with an ICM managing director. They are bystanders. I engage with MDS from Corproate Bank, loans, DCM etc. not once within my own management. It is those MDs who should be fired. London and NYC need a handful of smart , multi functional directors, who have done various products before, been on the front end and have strong technical skills. What they need to get rid off, are managers who only do staffing sheets !!! All those underwriter managers, useless MDs etc….
@m3 can confirm this as the distasteful photo was circulated by email
@p9 LIER!
@fb lol that’s next level bs
Only those on immigrant visas and most vulnerable were laid off in NYC. No green cards or citizens. The racism and bias is insane.
@gk the work is still needed. You can do the lame work yourself.
I was so bad at training people they asked me to stop. Then they cut the guy I was training and the guy training him. I didn't get RIF'd even tho I don't do much of nothing. Funny place. I'll stroll in Monday 930 and keep up the good work (til 10, coffee). 388 is a pissa empty wfh next week.
@ce I was just assigned a "shadow" everyone in my group that has received one was JD in the next 30 - 60 days. So basically they're making us train our replacements first.
@m3 Thanks for the info. Was Markets in London affected?
Several in one of the ICM UW teams in london got laid off on 29 Jul. The team head then went for company paid team drinks and arcade games same evening with bunch of people on the floor. Then pictures sent around of how much fun he was having with company paid alcohol and arcade games , within hours of laying of his team members. Funny part is he asked his them to keep working till end of month to complete month-end assignments. Worst BS I have ever seen.
@cb this is harsh. I can say Citi’s risk analytics and infra was still 5-8 years behind JPmorgan in my particular space. It will draw more fines from regulator and more restrictions when the clown in White House is about to be fired. But I do feel Citi’s internal audit is definitely wasting too much time of everyone else’s precious time.
@jd Can I ask which department was impacted in London? Model Risk? Internal Audit? Controls? ICM? Underwriting?
@hv london notification of consultation went out on 7/29 and listed employees put on notice as redundant on 7/30... believe it was a 45 day notice period, so mid-Sept layoffs
@gc
Worse than 7/29? Also, what about locations that have to follow certain process, like consultations in the UK? That takes time. Is the delay intended to give time to follow the process in those locations?
@g2 good. That’s the lamest team
Next wave week of Sept 13th. I heard it will be like a category 5 hurricane. Prayers for all
Client - icm: broad cuts across ibqa, product development and underwriting teams. Cuts spanned geographies and levels.
@a4 what department were you in?
@fb This is absolutely true. Unfair things in CITI, this should be reported USCICS then they won't do this again. Be cautious with what they are doing.
You're the Svcker Fool for divulging your trade secrets, knowledge and troubleshooting methods.
Who's to say you will Not be Laidoff in a few months yourself??
If Citi can do it to other employees, they can do it to you too !
If I were you, I would've "trained" or taught them Simple BullSh!t that can easily be found or if they asked other from other employees.
It's like teaching someone how to play Poker, Chess, or other games or sports. Teach them the bare bones basics that can easily be found in books or online.
You do NOT divulge your trade secrets, tactics or techniques since you too will become Layoff Toast in a few months !
Racism, Caste, Favoritism, Friends - The four pillars of IT industry in the USA.
All the people who got laid off must be either permanent residents or citizens. I bet there are '0' immigrant layoffs, and probably more visa hirings, promotions and offshore hirings.
REPORT THE FRAUD AND DISCRIMINATION.
@em yeah same like here. They cover their own people. A lot of politics when deciding who to cut off ✂️
@c9 I got laid off yesterday, some politics too with in Citi . More favor to own people and group even though I have less pay and more experience they seems picked me first with target.
@ce yes. I had to start training them a few months ago and was told it was because they did not want the people who were impacted to do the training.
@e6 your time will come. Karma will get you for coming on here and showing off that you’ve been lucky. A$$hole!
I was cut a few months ago and was so happy about it. My D made my life stressful beyond any healthy mental state. The stress was unimaginable. I heard she got cut yesterday. Prior to that, she was moved under an MD she couldn't stand. I guess no one is immune to the horror show. Would that be Karma or just Citi life as usual?
@b9 under Shel?
So weird. I legit work 2 hours a day, in a high-cost location and am at the top of the C14 salary band and I survived lol
388 FL24 SVP was let go! He’s been around forever and was way past the retirement anyway, so he seemed happy to leave. He’s walking away with about a year’s worth of severance, plus another three months on payroll.
@b8 Dummy!
There appears to be a lot of lay offs today. Mostly Americans. But we don't know if it is true or just scaremongering.
But the fact is that a lot of the new vendor contracts are getting renewed and offshore hiring has been substantially increasing month over month. I think Modi did a great job😁, and the contracting companies are doing a phenomenal job by trapping higher management.
MAGA got fooled! 🤣 More Americans are getting laid off than ever!
@ce yep, that's the plan. I did not survive but every single person in our LOB started training late April, here we are 3 months later... I'm sure time frame will vary by business, but result is the same.
For those who survived, are we expected to train our offshore replacement?
Design & UX (in Tech) got hit.
@cb this i agree with. So many “risk” teams that overlap and truly add no value
In Citi, due to repeated consent orders huge number of salaried employees were hired. With short interviews, etc.
That entire group created more problems and solution. Spread across every department. Risk became a new buzzword to quantify and justify anything. Metrics were demanded from rank and file by +3 different teams who in turn don’t talk to each other. The entire organization had 3 values to work against: Red - Amber - Green. Executive/Senior management worked to maintain 1 value: GREEN. Hook or by crook. And these teams: happily took whatever was served to them as long as its GREEN.
So I say: good riddance. If its from risk and compliance.
My manager gets laid off today. Anyone has the same situation before? Does that mean my position is in danger?