I have been told by people in HR that they are in the process of putting people into buckets based on various metrics Save whatever you can, and be ready
Layoffs under the radar
I haven't heard of anyone being laid off, but people here write that layoffs are happening in some departments under the radar. Can anyone provide more information?
FRONT OF WSJ : JPMorgan’s Ties to Jeffrey Epstein Were Deeper Than the Bank Has Acknowledged
https://www.wsj.com/articles/jpmorgan-jeffrey-epstein-525febe3?mod=hp_lead_pos1 JPMorgan Chase & Co. had ties to Jeffrey Epstein that ran deeper than the bank has acknowledged and extended years beyond when it decided to close the convicted s-x... — read more
Anyone out there hear anything?
next round of layoff time frame?
CNBC had financial analysts speak about the current economic health of the country. Eventually the topic came around to the banking system. Out of of all the big boys, they listed Citi dead last when it came to buying Citi stock. They all agreed... — read more
Is RTO tracked and if so what is the impact?
Does your manager get report on the time in office? Do they need to discuss with the staff if below 3 days a week and marked somewhere? Is the policy same for technology hubs like Tampa or Irving?
Earnings coming up pretty soon
I am quite interested to find out the quarterly results ...
CIti seems like a sad place....full of trolls
Trolls have no life and belong under the bridge. They made a new D & D movie for you to watch
RTO is old school thinking.
Citi likes to fancy itself as edgy but RTO to build culture and relationships is old school thinking. Simply put, major talent looks elsewhere for employment when considering who to work for.
From another post in regards to layoffs—“You’re looking at it all wrong. Its more important to give Jane an extra 2 million to up her pay to match some of her peers who are over other banks. We have an aggressive ESG initiative planned out. So to... — read more
Andy Sieg to lead wealth unit
Andy Sieg has left Merrill Ly--h after six years at the helm, according to a memo sent by Bank of America CEO Brian Moynihan to staff and seen by Barron’s Advisor. He is returning to Citigroup to serve as the new head of Citi Global... — read more
Layoffs in tech last week
So I call into the help desk, which is no help at all, wait for days from a field tech to contact me. I don’t understand when the helpless help desk cannot help me, why they laid off a bunch of techs who can actually help but now can’t because they... — read more
Wfh policy at Citi Private Bank in NYC?
I’m considering applying for a job at Citi PB in NYC, does anyone currently work there and know what their policy is re WFH? I heard citi is still largely hybrid, but don’t know what exactly that means and how enforced it is. Any insight is... — read more
I love the double standard alert.
Greedy and disloyal - -Employees who quit for higher salary. Brave and strategic - -CEO’s who layoff workers for higher profits. Classic.
AI is coming..you’re all fired.
Depending on which flavor you use, this bad boy is vetting code, scripts, business proposal, crunching numbers, outlining work flows, streamlining processes, investment decisions (robo investing has been out for a while now depending on the vendor)... — read more
Feeling that RTO woes.
I don’t want to go back to the life I had before. I’ve never been closer to my family thanks to the extra time I get to spend with them instead of commuting. I still work hard. I do my full hours and then some. And I’ve never been happier. I hate... — read more
Anand Selva, who leads Citi's personal banking and wealth management business, was promoted to the newly created position of chief operating officer. Selva, a 32-year Citi employee, takes over responsibilities previously held by Karen Peetz, who... — read more
Mandate: RTO 3 Days a week
I have decided to go to office when I can. I have early calls most mornings. I work with other leaders who refuse to go to the office and who have stated daring their managers to fire them. How can Citi apply RTO evenly and be consistent through... — read more
Employees Fired for Not Getting the Jab
Now that Citi has dropped the jab mandate, are any of the people who were fired for refusing to get it, being hired back? Suing the company?
Academic study flags 186 banks vulnerable to a run like Silicon Valley Bank
A new academic study on 2023 bank fragility concludes that 186 U.S. banks remain vulnerable to a run on deposits that doomed Silicon Valley Bank, Signature Bank and Silvergate bank in the past week. The paper by four professors concludes that the... — read more
JPMorgan CEO Jamie Dimon ‘knew in 2008’ that Epstein was a s-x trafficker
Next 2 weeks
Next 2 weeks critical Expect more than the initial 1% may be 5% before the month is over. Probably lots in technology locations
Fear over nothing.
A few banks have gone under here and there, so what. Jane managed to grab another 2 million for herself and I’m sure there’s a rather secure safety net for her in case things take a turn for the worse. She’s going to be just fine. So you guys are... — read more
Any layoffs coming for the IT groups?
If so, who, what, when, where?
Applying for Jobs Internally
Anyone know if its possible to move up from a C12 to a C14?
Equal risk vs. ESG
I think layoffs need to be percentage based. If the Citi work force is 80% men and 20% women, then that should be the layoff percentage. If you need to layoff 100 people, then that layoff pool needs to be 80% men and 20% women. 8 males and 2... — read more
Once a team has been identified to have RIFs, at Citi, is it common for layoff criteria to be primarily performance ratings? 4s get laid off first, then 3s, then 2s, then 1s? Or is it more about white males get let go first, then white females... — read more
Recession ebb and flow
The ebb and flow is as this. Recession hits and jobs get scarce. Management knows this so they leverage these times to really crack the whip. Team meetings will be peppered with implications of “work hard, longer and more often” “there’s plenty of... — read more
Silicon Valley Bank, Silver gate bank tanking
Signature bank stocks falling, and seeing the worst times ever. We all in the banking world should be concerned.
Don't count on the pressure to ease up
Pressure won’t get any better. The impending recession will be used as a tool to make you take on more and more and more work with tighter and tighter deadlines. You’ll hear the implied “do it or else”. You’ll hear the all famous “times are tough... — read more
How much severance are people getting?
Area: Tech Tenure: 2.5y Package: 2 months paid + 4 months
Things appear to have settled
Very quiet here so things appear to be settled and back to normal
That’s all. That’s the message. Not sure why I’m venting here. It’s the internet. But I feel lost and overwhelmed. Been at citi for 14 years. But now is particularly tough. I’m overworked but I put stuff off, drop the ball on items, not interested in... — read more
Recession layoff but still hiring, sorta odd.
So each company lays off to show financial responsibility. Company A lays off and company B lays off. Each one opens up positions to fill what they laid off. Company A and Company B just ends up trading employees. Each company claims we are... — read more
I think some of the biggest mistakes that people make is: expect a company to bend to their will expect a company to stay the same They often forget about option 3 which is to move on. With every single layoff there is a talent vacuum that... — read more
Does anyone know how Citi notifies employees of layoffs? Specifically, those being laid off? Anyone's help is appreciated!
Citigroup Cuts Hundreds Of Jobs
Citigroup Cuts Hundreds Of Jobs, Lays Off Employees In Investment Banking, Mortgage Units: Report Citigroup layoffs 2023: The Wall Street giant’s investment banking and mortgage units are among the most affected by these layoffs... — read more