Anyone actually know the reasoning on who exactly gets cut? Is it money, length of being there or what else?
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"All the above, all the above, all the Abuh-ooah-ooah--ve"
FYI. It's happening. Some MDs/Ds have started to ask their employees to email them who does what work, and who else on the Team can do their jobs, although Not in these words exactly. The MDs/Ds rephrased it. But the implication is who can replace you if Citi decides to lay you off. Since Citi is playing this game, I will say No one else can do the work I'm doing. Note that Employers and Employees sit on opposite sides of the table, Never on the same side. Employers are always looking for ways to pay employees as little as they can get away with and work employees for as many waking minutes and hours as they can get away with. Because of the Layoffs on Nov.20 Monday some Teams were combined into a larger Team. Despite what Employers say about Team work, collaboration and being rewarded based on individual work, do Not be fooled and make No mistake. Employees are graded on a curve relative to other Employees. At Citi, everyday we're playing the Squid Game and Hunger Games.
Did they rename icg risk?
What about Directors ? I see lot of folks focused on SVPs and VPs. There are lots of directors newly hired as individual contributors who contribute nothing in fact. I know a VP in a different back becoming director in Citi and are individual contributors.
A colleague who reports to an MD who keeps their team informed advised that Directors were told to select 1 or 2 Directs for prospective layoffs. I also agree with other posts that duplication and performance reviews will also play a key role. Hasn't anyone noticed that they rushed us to complete our reviews almost a month early. Do remember too that as some Senior managers get shuffled or decide to leave/retire there will be a trickle down to effect on their subordinates and the subordinates' reports. I think come Monday we will hear about additional movements and the dust may not have cleared just yet.
Audit performance reviews!
Managers who write terrible performance reviews is a telling sign on how that manger cares about that employee. They must go.
Various.
- Need for role
- Tenure
- Performance
It’s about your role and where you sit in the org. That’s it. If you’re in one of the functions listed on the hub, or you’re in a team that merged with another, your role may be duplicative.
Also if you get 4 ratings, you could be vulnerable.
Definitely cost and tenure.
What if the whole argument for downsizing 10% is based on flawed data.
The Noise Bottleneck: When More Information is Harmful
When consuming information, we strive for more signal and less noise. The problem is a cognitive illusion: we feel like the more information we consume the more signal we receive.
Nassim Taleb argues that as you consume more data and the ratio of noise to signal increases, the less you know about what’s going on and the more inadvertent trouble you are likely to cause.
In business and economic decision-making, data causes severe side effects —data is now plentiful thanks to connectivity; and the share of spuriousness in the data increases as one gets more immersed into it. A not well discussed property of data: it is toxic in large quantities —even in moderate quantities.
Chief Bora Bora drum beaters bcg setting the tempo…
https://www.bcg.com/capabilities/cost-management#american-metamorphis
Basically depends on your political leaning! Maybe if your manager sees you as a threat. Or even if you are someone who doesn’t actively kiss your manager’s behind. Essentially it is a beauty contest.
Some of it will be luck depending on which department you are in. Good people will go who are unlucky to be sitting in a vulnerable department like ICG Risk