We’ve all seen it before. They’ll shift some people around here and there. Some will be placed into positions where they don’t need to be in and some will be placed in the right spots. Some will be shuffled in order to protect them from leaving. After all that, heads will be chopped. I’ve heard from several different managers now over the past 3 weeks that layoffs will start Q1 of 23.
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Person saying it was 4 ratings getting let go. No, not true. Folks with 2s and 3s got let go as well. Not performance based since they are eligible to apply for any open role.
original poster here. I…….told……..you………so.
Senior MD said it’s 25% cut across Non Reg projects and teams. People with level 4 rating were mostly let go.
I find all this news of layoffs this week so incredibly hard to believe. So many other replies of this being such a huge unsubstantiated rumor just can’t be wrong. For weeks now, post after post of this being such an impossibility wrapped up with “I know better you mustn’t work here” “I’m in the know and its not happening, you mustn’t work here”…and now its all true after all!?!?!? That’s just crazy talk.
WSJ Headline: Citigroup CEO Jane Fraser Gets $24.5 Million 2022 Paycheck, Up 9%
Chiefs at other big banks, including Goldman and Morgan Stanley, had their pay slashed
https://www.wsj.com/articles/citigroup-ceo-jane-fraser-gets-24-5-million-2022-paycheck-53c30a5c
Now’s the time the naysayers to chime in with all the justification reasons for it happening.
Everyone quit moaning. Jane got her raise, thats what matters.
Some good people let go today but also got rid of some people as well. At least Jane got a raise percentage that was much larger than probably all Citi employees.
Citi KYC
Which group/sector / city ?
Yep. Same here. Citi just axed a bunch of us. Just today
I was just laid off as well!
I'm sorry to hear that! Can you give us more details surrounding your layoff?
I was just laid-off
Sure, say all the corporate buzz words, do the over the top laughter when the manager make a joke, be sure to show your face on the zoom camera so that they can see you laugh. Agree that every single idea ever presented by management is the best idea ever conceived in the history of man kind and never give your honest approval. Other than all that…. Just go to work, do your job, go home and get paid.
I got “the word” that YES, layoffs will be coming Q1 2023.
Not necessarily so, if you are a stock holder, you get to vote. While it may be a small percentage you can still vote. Most importantly though, you can do what so many are doing now, vote with your feet. In other words if you don’t like your world, then change your world and leave for another job elsewhere. Contrary to what’s being sold internally, there are other jobs out there. :)
Unfortunately to you have no vote right to Jane.
I too agree, Jane should go.
That’s true, she should go. I agree with you.
Koolaid drinkers of Citi….UNITE!!!!
Additionally yes men are not always yes. They only yes to anyone above them. On the other side they got to shoot down whoever try to break their silent rules. If someone below them showed any talent, they became so nervous about their position and try everything to push the person out. They work with their yes men friends to make sure office is silent when big boss ask if any problem
I gotta agree, the yes men do bring down the company and are a drag on resources. I think its funny when they are silent all through a zoom meeting but when the boss says something slightly humorous, they immediately come off of silence and belt out an over the top laughter. Gotta make sure the boss knows “I’m here and I think he’s funny.”
Then go back on zoom and contribute nothing at all meanwhile everyone rolls their eyes.
After such meetings they log here, clearly, and post nothing but “Go Citi” and try to sell the koolaid on just about every post on this forum.
You noticed they are Coleman when you lick them? You learnt this from school? That ‘ s how you gratuities by this useful skill licking professors’ shoes? Very impressive you know shoes are different from boots
No kidding. LMAO
I mean just licking all on the side, the heel and bottom of that boot. Nope, no shame there, fully embracing what you are. Constantly seeking the favors of others in order to make it. LOL. Oh, I bet you get paid very well for your “talents”. LOL
Sycophants bring nothing to the table for sure, except enough saliva to lick the boots chica.
Yes, let’s go leave Citi
This is good as the errors have to surface to be fixed. So it's out there now hire people to fix it and let's go. Go Citi!!!
Jane is showing us new levels of excellence.
The only bank out of the top 8 to be found lacking:
https://www.cnbc.com/2022/11/23/citigroup-faulted-by-us-banking-regulators-for-poor-data-management-in-living-will-review.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
Go Citi, leading by example. Yea us!!!!
So awesome to be there and see first hand the well thought out direction unfolding before our eyes.
Interesting so this indicates citi will hire hundreds of employees for internal audit internal controls etx. Massive hiring is coming next year massive! Come to citi or be square!!! Go Jane
That's ok as I got my shares for free.
Citi stock dropped today by 2.2% after this news was released. Yet once again, falling short where other banks succeed.
Citigroup faulted by regulators for poor data management in 'living will' review. “Citigroup was the only bank among the eight institutions that was found lacking.
https://www.cnbc.com/2022/11/23/citigroup-faulted-by-us-banking-regulators-for-poor-data-management-in-living-will-review.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
This is the reason no one has faith that any of our leadership will handle the upcoming layoff any better.
Jane is incompetent and pathetic……..she will be gone soon!
ESG = look it up. Google is your friend.
Jane is writing a book. The ESG initiative is but a chapter.
Chapter 1: How I became the first female Citi CEO etc…
Chapter 2: What a visionary I am to wholeheartedly jump on board with ESG etc….
Its funny to me as the populous is saying:
Everyone: “ok, ESG got it, gotta have it, whatever. What are you doing to make the stock move upward in comparison to other banks?”
Jane: : “But with ESG, we are doing this and that”
Everyone: “But what about the stock movement?
Jane: “So we’re improving the ESG footprint by”
Anytime anyone says anything about the stock price, she counters with some off the wall ESG statement. As if its the ONLY plan she has. If this is true and there’s no other tool in the toolbox, then yes, I am concerned.
ESG……..the writing is on the wall, it is going to fail. Jane must be a special kind of stupid supporting it.
I work onshore and due to covid we haven't had water coolers in years. You sound a troll whose internet went down. Go outside and get some air to refresh yer brain.