I heard some rumors about cuts, but I really don’t believe there will be any soon. Possibly we can expect even more pressure on employees, as a result of which many will leave voluntarily, without packages.... I may be wrong, but... During the last two months many people I know have left precisely for those reasons.
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You bet cuts are needed. How else can we keep paying fines for screwups and Jane’s high salary.
Do you mean people got another job? So like citi saves via attrition?
That is the plan. Make things so unbearable that people leave on their own. It save money on the severance so Citi can continue to pay all the fines that we have a habit of collecting. It’s funny to me that Citi will run off a tenured experience employee to hire a new person at 30K more that’ll take a year or more to ramp up and may end up as an average employee usually not performing any better or worse than the guy you ran off before.