Shortly to be followed with a meeting from higher ups or JF of “well we had some tough decisions to make but we are on track.”
It’ll happen cross regions, cross groups. Good luck.
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This thread and others on this site stated that the September Layoffs will happen so that the WARN period ends Before December.
Doing the layoffs in Sept. also gives Citi time to wrap up any loose ends AND avoid having to pay bonuses.
In addition, expect many Undeserved 4-Ratings since this is a pretext to justify NOT giving out bonuses and salary increases.
Citi's layoff pattern since year 2023 has been mid=month layoffs between the 14th to 17th:
January
February
March
September
October
November
Is this related to the big wave coming in September? If September is would be the separation date, then the announcements should be made by end of July/early August?
What areas/locations would be affected?
And under democratic they open the floodgates of immigration that undercuts incomes 😋
@k4 I think they were being sarcastic..
@hx don't tell me you were thinking that stricter visa rules meant more US jobs? LOL!!! Your fellow American decision makers couldn't give a rat's a-s about you or any other American...all they care about is their own bottomline. You poor, poor, sweet,summer child...you believed the MAGA talking points? Ask MAGA what happened to the DOGE checks they promised every American ROFL!!!!! Oh, you gullible fooooools
@jm unfortunately, in a republican presidency all they do is strip regulation to open the floodgates of money based on illegal practices.
yeah, audit companies already have questions to the quality of their audits done in India as well as their unlawful practices .
back to 2007-2010 one of the companies I worked for , offshored regulatory reporting to India . not sure if the quality of their work was poor or other reason, but we were told that FRB interfered and requested reporting be moved back . now, 10 years later, that company, as I heard, is moving reg reporting to India ...again.
I guess it should take some event like GFC and some time until natural turnover both onshore and offshore will lead to quality deteriorating enough for everyone to get their consent orders.
Fed just needs to do good work.
@he
Yes. Many jobs are offshored due to stricter visa rules. It's a actually a golden opportunity for the rich people to hire in offshore.
Lay off Americans, Say AI, hire in offshore and hire a support manager from a contracting company onsite to coordinate with the offshore people and make billions in profits and do some charity work to save on taxes. Money, Money, Money....🤑
@f8 It's everywhere. Friend of mine got RIF'd yesterday at Wells. Said it was a massacre. All these companies offshoring. And Trump humping the ilk of Jane and her efforts. I thought Trump was going to create jobs. I guess he is, in other countries.
There’s also a re-emphasized effort to leverage automation+AI to trim down HR even more than what they already have. Yikes.
Its odd. HR used to be the last to layoff as you needed them to process the paperwork to let go of everyone else. Now, they are among the first to go, in the mix, just like anyone else.
@ex Yup, these 'upper caste racist managers' held a cannon on Jane's and the board's head to give them and their company the job or else......anyone but their own fellow white Americans to blame. Sad really.
For all the whining that's done about this and that....even if all that were true, the top decision makers are white and American or British...why not blame them too?
@ex Exactly. I know a teammate of mine who holds H1B never shows up in the office but takes vacation all the time.
They want to fire all Citizens and hand over the bank to the shady contracting companies. That's the goal. AI usage is just an excuse. They have no idea on how many hard working Americans are going to work every day with anxiety and stress issues. They will continue with this attitude until some of employees quit/die by some heart disease, depression etc..
What will they do with those extra millions saved?!
That's how bad it is! Not just in Citi, but everywhere in IT industry. You guys need to make some friends with the consulting companies, especially with those upper caste racist managers to continue working in the IT industry.
@d6 IT folks in Jersey City and Rutherford? Or another group?
Any layoff at Irving site?
Same here. I am throttling at 75% and still received a stellar mid year. Competition is so weak here easy to do. C14 based at 388. I can only hope I am selected.
388 layoffs? Senior people? please... Please pick me, Mr. Useless. I can't even get myself laid off. MidYear26 review? keep up the good work! for goodness sake this is nuts.
Cuts at 388?
Last week of July cuts confirmed, I have several people on a list in Jersey city and rutherford
Yeah agree with below that increase in severance funding is confirming acceleration of cuts...
Know for sure there are cuts in September to make cut off for December
Not news. Goodness people this has been on going on for 2 years and Gonzalo just announced increases in the severance budget. Expect monthly layoffs to continue and ramp up.
Source?