I heard there will be announcements in December 2nd week as well. Anyone has any idea ?
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Please re-read the comments made by Jane Frazier about the layoffs. She clearly stated some parts of the firm, not the overall corporation, would see a 10% reduction in force. Meaning there will not be a total of 24,000 layoffs globally, a unknown lesser amount. Fifth grade math word problems, 10% of part not overall. With that i believe layoffs will be by business unit, some units layoffs might be completed soon. Others might not start till February.
Jan - Mar
Uncle Baby Billy is the mastermind of all this.
They’ve laid off about 9k so far this year.
But this 10% number is not what was said either, what was said was that certain businesses could be hit with 10%. Not 10% of the total of Citi.
I find it odd there is zero note of who these 300 MDs were or which areas they were from. Seems we're supposed to do some search and (not) find using the new org charts to determine this info. Even still, the org charts are too high level to know much. Still clueless where my team is moving and who's coming with us or not. What a sh-t show.
If layoffs are going on then why are they hiring.?? One of my friend just got an offer and joining as an AVP.
Funny to the press, Jane acted like she was getting rid of mostly upper management what a crock
Translation: 300 MDs/Directors were let go.. they are going to get rid of most contractors.. cut all the duplicative USPB and ICG roles.. so they’ll get to that 24k number real quick 💅🏻
Sadly, They’ve done lots of layoffs- I know 10 SVPs for example impacted
Lower levels. SVP, VP, Associates, file clerks.. etc.