Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Rumblings of more rounds of layoffs in Oct then Jan.

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

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Post ID: @10NHVRPs

9 replies (most recent on top)

I believe layoffs may be coming in the next week and a half at the O’Fallon site. We shall see if it comes to be, but that’s the word on the street.

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Post ID: @10NHVRPs-sfru

Layoffs and reorganization are happening every quarter whenever necessary so no point in trying to predict. Just do your jobs while your services are needed.

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Post ID: @10NHVRPs-curx

Aml just needs to shut down since the dept is a disaster and has no idea what they are suppose to do. That's running in circles. Horrible and stressful department.

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Post ID: @10NHVRPs-byut

So long as we continue to make more money for Corbat, thats all that matters. 20+ million per year for him just isn’t enough. We should think of creative ways to make more for him.

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Post ID: @10NHVRPs-7twz

3ueh You just work in the aml dept. call a branch and ask them what’s happening and you’ll find out. Or you can keep your head buried in the sand like the rest of them.

Btw, technology will eliminate the need for most of the people in this dept. automation is coming

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Post ID: @10NHVRPs-3fly

Hearing layoffs in O’Fallon in October. No specifics as far as area(s) though

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Post ID: @10NHVRPs-3mad

Aml/KYCis not closing trusts. There is an extended block on transactions until KYC is satisfied. What your seeing here is a elephant that did not focus in technology for years finally realize that using technology can streamline processes. This does not explain the fact they are not competitive with interest rates but to blame one particular thing is pretty shortsighted.

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Post ID: @10NHVRPs-3ueh

10 year treasury inversion is going to k–l the bottom line. Competition is advertising big rates and taking deposits left and right. KYC/AML is on ongoing disaster. Closing business account (mostly large dollar trusts earning almost no interest) at an ever alarming rate. Bottom line is we have to cut expenses (people) and fast. Lay-offs are just the norm. Nothing big is going to happen until something big happens.

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Post ID: @10NHVRPs-qet

I’ve always heard rumblings of layoffs. As soon as the supposed targeted month comes and goes someone else follows up with another month down the road. What are your specifics? Any particular group? Any particular location?

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Post ID: @10NHVRPs-xpx

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