I received my package for 11 years of service, 22 weeks of pay... I was just 25 days from 12 years of service so that was a little painful, you would think being that close and loyal to Citi that they would have rounded up!
No way and another co-worker of mine gave Citi over 25 years was also canned 2 years away from retirement... why can him when he gave his life to Citi and so close to retirement???
Of course with Corbat making tens of millions sort of puts a scaling back on adequate layoff packages. Come on now, we can’t continue to make sure he gets millions upon millions per year and still give decent layoff packages. Its your part in making a sacrifice for the company. Its your way of giving back and he thanks you for it.
In comparison, I have a friend who was layed off by Fidelity. They rounded up on the layoff package.
He had 9 years in with them. They rounded up to 10 years and gave him 6 months of health insurance coverage in his layoff package.
Laying off employees who are close to retirement or over 45 is a common thread in banking. But try to prove it. Government looks the other way as all these companies find creative ways to RIF employees.
CITI Leadership made it clear starting in Jan ‘18 via company wide emails that women & minority’s would be promoted and managers would be held accountable. Read between the lines as to which group of Citi employees were expendable. There is life after CITI employment and for most folk it ends up better after the initial “how will I find a new job?”
I have over 34 years in, and was let go as well. Very painful.
Yep, they also round down for me though I have less years than you. I will always look at them as a CHEAP employer. Do not recommend.
Where are you located? I’m still concerned about getting the boot. NY tri-state area employee here.
Its because they don't care, unlike their bogus commercials, CITI CARES.. HA right.