Hearing that they will be impacted the most and not just at management level from what I’ve heard (take it lightly of course since it’s through the grapevine). Hearing that entire controls and risk departments will be completely dismantled, moved or eliminated. Anyone hear of other departments that could be potential targets? I’m assuming no one will be safe at this point.
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Some Risk & Controls people got axed and their Direct Managers did Not even know about it until the very second they were axed! Citi doesn't want people doing Quiet Quitting and Not working until Citi decides who Citi wants to Axe! Citi wants people to work as hard and 24x7 for as long as it takes while Citit plays the guessing games with its Employees/Su-kers !
https://www.scotusblog.com/2023/02/supreme-court-will-review-constitutionality-of-consumer-watchdog-agencys-funding-cfpb/
Surprised that risk and controls people are being laidoff since there's a lot of work to do because of the Consent Orders, MRIAS & MRAS. With fewer people working on these, this will impact resolutions and again draw the ire of Regulators. Makes No sense to layoff Risk& Controls
@2jla+1oD4p9FY Or Risk has become too large and unmanageable. Too many hands in the pot, so to speak. I wouldn't be surprised if it's one of the areas that has major cuts, alongside Tech.
Could be that risk and controls is the right sized because they hired like mad over the last few years
Some advice. Start looking.
I'm in risk(wont say which team/department),a few svp people and directors got let go in my location and on my team. Of the people that werent let go, there was no mention we were in the firing line but from what I'm reading this is just the first round of cuts so better prepare to start looking at other jobs as a pre cautionary measure