Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Everything at this point is just speculation

It is frustrating not knowing what is going to happen or when it's going to happen. But everything at this point is just speculation. We were told that something is going to happen that there are going to be changes, everything from a reduced Workforce, working from home, Citibank in Hagerstown closing. We were told we will know sooner rather than later. There are many rumors going around as there always are. I hear new rumors almost everyday. One thing that I have learned is not to listen to the rumors because 99% of them are not true. They have eliminated three small departments in the last few weeks. They have sent them home with a 60-day notice required by Maryland law then their Severance and unemployment will kick in. Citibank pays the severance in one lump sum and you have to wait a week after that before declaring unemployment. Everything seems to be pointing to the fact that they are closing down building 2 and at the very least reducing the workforce and moving everybody over to building one where are the servers are located. Other than that who knows, we will all find out together in the next couple of months. Until then try not to stress too much and hang in there. Peace joy and love to you all.

I have to say that I agree with @WxGbudy-2eust

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Post ID: @OP+YLuDOXr

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Older loyal = Dinosaur

Evolve or perish.

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Post ID: @bgwk+YLuDOXr

Big layoffs in Jacksonville this week. Told all development is moving offshore. Lots of older loyal employees kicked to the curb to be edit the bottom line. Very sad. This is not rumor but fact.

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Post ID: @bwds+YLuDOXr

Pre 10 to 1 reverse stick split this was a $55 per share company. Said another way, we’re barely at $7 per share 10 years after the bailout.

Shareholders want a return. Executives can’t figure out how to grow revenue (their job) so instead they cut costs (layoffs) and buyback share to artificially boost share price.

Be smart. Leave. Or continue to bury your heads In the sand.

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Post ID: @wwr+YLuDOXr

I agree with you. I'm trying to mentally prepare for the prospect of seeking new employment if it were to happen. I've been feeling something has been up since the end of 2014. Prior to that there was a sense of job security that even if your job ended you could find something else there. Now there hasn't been hardly anyone hired from the outside in a couple of years. I wish "they" would just spill the beans!! They know what the general plan is, but don't want to give people a heads up. Who was let go besides people in mortgage?

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Post ID: @gbv+YLuDOXr

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