What are your thoughts about potential Citi Layoffs 2020? Any news or rumors?

I was told my last day will be 11/22/19. 18 years with the company. I’m over 40 with a family of 5 and was the sole provider. I live in St Louis area and work at the Progress Point site.

Good for the bank or a Trojan horse that will lead to more layoffs? https://www.google.com/amp/s/www.cnbc.com/amp/2019/11/13/googles-checking-account-is-setting-up-a-showdown-with-apple.html

Will is happen here? https://www.thelayoff.com/u-s-bancorp?sort=active

If attrition continues as it has for the past several months, there'll be absolutely no need for layoffs. People are burned out and are leaving in droves. Of course, they are taking the knowledge and expertise with them, but it's not as if our... —  read more 

More to come, so far is 2019, Citi laid off 950 people in January and then again in August. More layoffs expected 4th quarter. No one is safe, but they are targeting folks that have been with them for 15 or more years, ages 50+ up. Job discrimination... —  read more 

Why? Are we hurting that badly for deposits. Most of the customers just churn these accounts every 180 days.

This is One of the most comprehensive stories I’ve read. Nicely done. https://www.google.com/amp/s/amp.businessinsider.com/citis-quiet-but-massive-restructuring-since-investor-day-2019-9

Anyone hear anything? IT is ramping up offshore resources the last few months.

Hurricane Dorian, most destructive hurricane to strike south Florida since Andrew Hurricane Ed (Patterson), most destructive manager to strike the Bay Area since the financial crisis.

Whats going on with the Layoffs? Its been quiet. Whats brewing?

GS is coming after cards and unsecured term loans. GS is a legitimate bank. Anyone other than me worried about this?

Word on the street is that Bank of America is making a bid to take the Hagerstown site over. I'm guessing they're gonna have a LOT of the Citi crowd applying...

Board that fired previous indian CEO vikram must answer for poor performance and quit.

Citi's revenue from equity trading tumbled 17% to $1.6 billion for H1 2019, a 5% drop in total trading. This is the lowest equity total among major U.S... —  read more 

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According to my friends in retail IPB is bleeding deposits. Talk of “right sizing” the starting with executive team.

Poor overall performance of these teams, cost, and the testing new systems to automate these processes. Just if dept of many, but this is a high priority. Anyone in those depts have additional info on this? Hearing layoffs will begin in earnest in... —  read more 

Citi never fully recovered from the 07 crash. All this cost cutting won't do anything: it's a dead company walking. The student loan bubble is coming and it will be interesting to see if citi can survive that. Couldn't agree more, @103sLczb-pgi... —  read more 

Has there been any news on the next major round at Citi? I'm specifically asking about bigger rounds, not the smaller ones we are seeing nearly every day.

Citibank leadership disappoints with poor pace of cost cuts. Promises to hit targets (many more layoffs) in order to hit 12% return on equity. No mention of plans to actually increase top line revenue. This ship has sailed people. We should all... —  read more 

I thought Anu was going to shake things up. Instead he’s replacing id–ts with mo–ns at the executive ranks. Dena Roten sent to ops and her replacing is an underling? Wtf is happening.

I received my package for 11 years of service, 22 weeks of pay... I was just 25 days from 12 years of service so that was a little painful, you would think being that close and loyal to Citi that they would have rounded up! No way and another... —  read more 

In other news, 99.9% of all other humans hate Citibank. Citibank Named “Best Bank for High-Net-Worth Families” by Kiplinger’s for Third-Straight Year Citigold Offering Highlighted in Kiplinger’s Third-Annual “Best Bank for You” Edition July 02, 2019... —  read more 

New rumor circulating is that Costco is NOT going to allow work-from-home reps to handle their calls. Since SD and KY already handle their acquisitions calls, this could mean that Hagerstown acquisitions could be laid off. Has anyone heard anything... —  read more 

This is just one example of countless errors that occur. Why? No staff, little training, constant pressure, no incentive. https://abc7news.com/amp/finance/bank-error-jeopardizes-$400-bonus/5342279/ —  read more 

Global Head of GIS, CB, finally canned... what a great day. Why are you deleting this post???? —  read more 

I keep hearing something is going to happen the second week of July in O’Fallon, MO. A big announcement or layoffs. Any more info on this? —  read more 

All the executives seem to talk about is the digital future all while cutting jobs but not replacing those workers with digital solutions. This is my perception based on ever decreasing FTE and increasing workload for those of us remaining... —  read more 

the CIO is awful

Why can’t we do this and do it better than GS????? I’m so frustrated. https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/goldman-follows-apple-amazon-into-disruptor-territory-184340494.html —  read more 

The iPhone started the revolution. Facebook will finish us off. They’ve figured out how to become a bank while usurping banking laws. We’re totally screwed... —  read more 

Bitcoin. Bye

What’s going on? And rumors? Org changes? New head is in

Severance info from past posts: @Z0nqAk7 @YY9NVxN-6iyb @YY9NVxN-gkm —  read more 

Antony nappi "retiring", this is gonna get interesting. Wonder who's taking his place and what type of changes will come about. I'm grabbing the popcorn and ready for the show.

Tipping of all current colleagues, NJ and NY will no longer be a hub for operations and technology next 5 years. If you are in front office,you probably be fine as long you keep your numbers up and pick the right politics. —  read more 

No further updates. Let us know where you end up. And for the sake of god, leave banking. Would love to see some success stories here.