Citi Major Layoff Begins
https://www.cnbc.com/2023/11/15/citigroup-layoffs-begin-in-jane-fraser-overhaul.html Anyone got emails or communication?
This should be considered theft. Laying off employees and then adding work to existing employees. Work hours and tc remain the same
Good luck suing for emotional distress
tbh most of the work can be done by one person.. I’ve witnessed in Citi it took 4 engineers to do one page of forms… like why
I've worked at a few banks and I've never seen one with as many useless people as citi. There are whole teams that are redundant. Good riddance.
i, useless, approve this message
agree as a former ex citi lol
Better not include your spouse’s sandwich during reimbursement request
As ex-citi, am curious to know how much impact is felt in Tampa office.
Save us. Refer me
Any ideas on how severance you be looking like?
Apart from the two emails and org chart any actual updates?
Not enough transparency for you? 😅
Do people now know if they keep their jobs? Which locations have been laid off today? Only NYC? Also SVPs/VPs?
Our business is struggling to produce value for our customers so let’s remove more employees so we have fewer people to work on things and the current ones are overworked and upset. That should fix all our problems!
In all honesty, Citibank was the worst performer of all the banks at its level. When I was on Wall Street we used to call Citi the jack of all trades master of none.
Cutting payroll is a temporary short term fix to the balance sheet that has negative long term consequences. But companies seem to be doing that a lot these days