I am working on the consent order and most of my engagements is done after the end of this month. It’s hard to feel confident I will still be employed next month. Does Citi historically layoff staff in July?
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@a1 it's not a year, it's generally one quarter before
I was in transformation and got laid off 2 months before all my engagements officially were due to end. They had already winded down significantly so they handed whatever was left over to someone in Mumbai.
from my 20+ experience on wall street, time between Thanksgiving and Christmas is favorite time for layoffs .
Citi, though, did pay bonuses to those laid off in December 2024 , but this practice is quite rare , at least if we are talking about "lower value capital"
@an they’ll layoff on Christmas Day if they have to.
They know months in advance who is on the layoff list. They have to to submit paperwork and report to state agencies. My mgrs knew as of January and I was laid off in March...one of the SVPs let it slip out they knew (even though those type of decisions are not supposed to be shared outside the reporting chain) #Citiprofessionalism
@OP Citi lays off staff on days that end in “y.” So if there’s a day that ends in “y” in July, then that answers your question.
yes ,every layoff decision is pre-planned before an year.