I heard Citibank is planning to lay-off 10% of workflow by Q3. Anyone knows more abt it ?
They outsource a lot and moving as much as possible from high tax liberal east coast to Texas. Massive hiring in tx for citi.
They aren’t hiring anymore unless urgent
Any severance given for layoff?
Most of the financial firms I've seen are up in the air atm as to the amount / if any. Super frustrating.
Let’s hope when they do they start with the top executives.
Heard the same
Can confirm. I'm already hearing about culling in CTI and infosec.
Yeap!!
Being head quartered in the shake down tax system that is New York isn’t as profitable as just about anywhere these days, the overhead for New York is off the scale , that is not a Citi specific problem. Also highly unlikely infosec would be cut unless people were misclassified as infosec to begin with, most banks will need to savage each other for infosec employees over the coming years , it is possibly the only area drastically needing experience
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Tax cuts ran out paying exec bonus