Leadership has confirmed mass layoff notifications will begin on the week of October 23rd. Best of luck everyone.
34 replies (most recent on top)
Ok. Oct. 23rd has come and gone. Any updates? Has anyone heard anything new?
I'm positive I'm not the only employee who has this sentiment or thinks this way, but I've been doing quiet quitting and holding off on executing certain solutions or strategies to make work more efficient or solve business problems. Why should I do so only to be possibly fired/laid-off and then Citi reaps the benefits of me going above and beyond the bare minimum of my work duties??? For some people who don't know, quiet quitting means doing the bare minimum amount of work without making it obvious and also working at a slower pace. As someone else here posted, Companies sh00t themselves in the foot when they do layoffs because at least some employees will do quiet quitting. Which is one reason why most companies do Not announce layoffs and quietly and slowly layoff a few people at a time. But when employees notice that Billy Bob, John Smith and Mary Shmoe are suddenly no longer showing in MS Teams or the Global Directory it's a definite sign of firings.
It was definitely a good guess based on why we actually know to date. I know of three folks laid off, all different dates, all on a Tuesday right before a payday.
I know NY and some other states get 12 weeks pay then sev pay. However, most get 8 weeks then sev pay. Tomorrow could still be possible. If they tell folks to log out immediately can giving them a later last day, AND they’re in the 8 week bucket that’s perfect for 4 more pay checks and then sev beginning of new year. I have no idea how they want to do it or if that will truly happen, but it was a good guess either way. I genuinely hope they begin to narrow down specifically which groups/locations are still at risk and who might be safe. And by groups I don’t mean “functions” or any other broad term, I am referring to at least down to VP team levels.
I’m not the OP but it was a good guess. They did say they’d outline a plan and deliver it starting the last week of Oct. This is the last full week of Oct. dates. Next week is just 30th and 31st.
I think we’ll hear something this week. It would not surprise me if some announcement was made on Friday. You know, deliver the bad news and hurry up and log off and let people calm down over the weekend.
So OP, your mythical date has arrived. 10/23. Anything?
Unless the original Poster has details of specific Departments, your original Post is useless vagueness since it's just a guessing game just like what Jane Fraser, HR and her direct reports have been feeding us. "Human" Resources Departments in all companies are NOT the Employees' friend or ally. HR works for the Company Not employees and Not even for the CEO. Do Not be fooled and make No mistake, Employees' relationship with HR is an adversarial relationship. Can both sides be cordial and respectful to each others' faces? Yes. But each side sits on opposite sides of the table like in a court room. And what do you do with "Resources"?? You use them up and then throw them out !
@OP+1oMAM3UL Thanks for posting. Any updates. Is the 23rd still the date or is there a new Nov date now? Any info would be greatly appreciated. Ty.
Any additional insight regarding next week seeing a target for a large chunk of layoffs for US staff?
It's very interesting that self-evaluations are due on the same date US layoffs are supposed to occur (per OP).
What do you mean : @7ikt+1oMAM3UL ? Please elaborate if you are able to do so. Thanks!
NY Employees in ICG got political and put others employees on paid leave.
She said she’d give numbers in Q4 earnings. That’s not Oct, that’s January.
By then the majority of layoffs will be complete most likely. So on target with what’s been said the whole time, by end of Nov.
What’s happen right now is a trickle relative to the mass layoff on the 23rd. As you’ve already heard this morning the numbers are going to be announced during earnings in October. And then the mass wave of layoffs begins. Lots of people suffering through denial as evidenced by the nickering over verbiage. Get to acceptance as quickly as possible. It’s going to be deep and broad and will happen very quickly.
The problem with your assertion is that layoffs have been going on all year, and then picked up a couple of weeks ago with the announcement. If you read any other posts on this site you'll see people saying they were just informed, and I'm pretty sure if we gathered the thousands of people laid off this year they would consider themselves a mass. What you should have said is, there is a very large wave of layoffs that will be announced the week of Oct 23rd. The label "mass" you are trying to affix to what will occur beginning Oct 23 vs what is already going on, is why your post is probably not well received.
This is an anonymous site so as I stated you can take from this what you like. I’m simply providing non public info that you may or may not want to know or believe. The fact of the matter is the layoffs are coming and they’ll affect many good employees.
So are the layoffs happening now, somehow separate from the "mass layoffs" starting the week of 10/23? Layoffs are layoffs, and your post is questionable at best
Op here. I suppose I should have notes the dates provided are NOT for public consumption which is why I posted it on this board. I don’t know anything about the international layoffs because I’m not that close to the inner cells of leadership. Take from this what you’d like. I’m only providing info based on what I know first hand.
the conductor of the train we are on is mary poppins who has snorted too much nose candy
Haven't heard this info about a specific time frame of layoffs. I think I know as much as everyone either end of October or November for the second wave as Jane mentioned.
The head of internal audit emailed the entire audit staff and said within the next few weeks as they consider layoffs it will not be by headcount more of structure. So any group ot role that doesn't fall within the changes will be cut.
This smells like a troll. Why say focus on US based staff with a specific date? Why are you the only one who has heard this out of a bunch of other people? It's a bad situation all around for international side of things too.
https://www.thelayoff.com/post/@1rrc+1oMAM3UL Which team are you from?
Locations and/ or groups?
Starting to wonder what was the rationale for the early Sep announcement. Stock price has gone down ~8% since. It feels that every team is waiting while work has slowed down to a stop. No one wants to make decisions since nobody knows.
Our team was told the layoff notices would start rolling out the 1st week of November.
No clue on the specifics of who and where.
Where are the specifics? What does lean in or get off the train mean? What is her goal? What is she trying to say and what does she want? Her employees to do besides sit there shaking in your boots? Where is the direction? Where is the leader ship?
Jane is fear mongering and wanting people to be miserable on purpose. she’s hoping to get as many ppl to quit as possible before layoffs so they can save on severance really terrible way to treat your employees. She hasn’t delivered what she’s promise when she came in as ceo
Jane Fraser is trying to scare the cr-p out of all her employees. She really is terrible at making her employees feel appreciated it’s basically my way or the highway sc--w you I have a feeling she wants people to quit to save on severance so she’s playing hardball.
Sorry mates, but this smells awful. The mess created with the unclear announcements have stopped the new work train. Now there will be lots of teams with little to do which could become layoff candidates.
Anyone following the news today can see that layoff plan not going well. What does 'lean in or get off the train' mean when most projects are cancelled or pending. It sounds like desperation is taking over. The reality may be that there is no plan. Sad
People keep posting this bs about “filing notice” or WARN. Stop. That’s not what happens. No need to file any advance notice, they just pay out the WARN period to anyone impacted. So they can do a mass layoff tomorrow. Laid off folks get paid a non working period of 60/90 days (depending on the state), where they don’t work, don’t have access etc. but are paid as if, followed by severence once the warn period is paid out. That’s how companies get around it. Exactly what Citi did with the March layoffs earlier this year.
Everything is possible at this point. The whole announcement has been handled rather poorly to create confusion. Many states require 60 days filing notice for large layoffs unless right to hire states. How will this work if enployees are notified in late October. Did Citi filed notices back in August?
They didn’t announce a thing. Just stop
Where did you see this lol stop spreading sh-t
Was there an additional meeting today that shared this info?