No communication what so ever. May be reassessing.

Has anyone who’s been laid off in 2023 received their severance package?

Could you please kindly shared what’s the process? Did you get a meeting invitation at the morning and did you just get called randomly during the day? Sorry if this question seemed rude or inappropriate, just want to prepare mentally ahead…

Zero information or announcements of the new org charts so far, looks unlikely it will be released today?

Most curious about Risk/ERM.

If I get laid off this week, and say accept and offer at another bank in 3 months, what will Citi disclose when the new bank is doing background check? Will Citi say I was laid off / fired / rif, or just verify dates of employment?

Should Workday show our comp info today? Don’t see any restructuring/layoff announcements yet that everyone was expecting would happen today.

Becomes really obvious in times like these. People with long tenure at Citi are kept (because tenure and severance at Citi are really important), which results in keeping the old inefficient people and getting rid of the newly hired, which were hired... — read more 

Just got email my virgin pulse was cancelled. Anyone else?

https://www.efinancialcareers.com/news/citigroup-cutting-jobs

Hopefully someone high up at Citi reads this. Citi cannot attract the best risk and tech employees with 0-5-10% bonuses. Get real - these functions get at least double that in other big firms. Have you ever wondered why risk at Goldman or JP is... — read more 

You know those shows that end every episode with a cliffhanger even though everybody has figured out how the overall storyline is going to end within the first episode? The ones where they keep dragging out the obvious with the same suspenseful... — read more 

This is the week it is supposed to start. So what else do we know other than that and the number? Will it end this week or will they drag this out for weeks or even months? While I'm hoping it will be a "rip the band-aid off" kind of a situation, I'm... — read more 

If I get laid off hence on WARN period, and during warn period, I magically get an offer, do I say I got laid off or I’m leaving for better opportunity. Because technically during warn period, we are actually an “active” employee, correct?

?

Countdown begins. let's please keep each othersinformed about how things are panning out in your orgs E.g. Business: Wealth Job function: Tech Leve: C15 # layoff# : X

M or T

Layoffs will be happening soon & the higher ups don’t care about the staff, they need to please the shareholders. Wake up folks. Retail Banking is as bad as working at Walmart Or McDonalds.

If someone offers you a job that pays more, you'll do what's best for you and leave your currently employment. If you have no loyalty to the company, why do you expect the company to not lay off people when it is best for the company?

To me the point is, is that if nothing changes on a management decision making level, we will continuously be at this juncture. We are “here” due to poor decision making by those who reside protected in their ivory tower. The risk is one sided for... — read more 

I am in a growing business at Citi. I am looking forward to next week so we can finally learn about the new structure and get on with it. I love my team and manager and we get support from the broader business. There will always be frustrated... — read more 

It seems like everyone at Citi is thinking that it is only Citi that is doing these type of restructurings. Everyone in the industry is doing it - it is just not that public and also not so many people at the same time. It is better to prune the tree... — read more 

New to Citi - this is my first full year bonus season. I always thought large US banks pay similar bonuses across functions, but it seems like Citi has lower bonuses - is that the case? Can other people with experience outside Citi confirm or deny?

Clearly it is not her to blame. https://www.reuters.com/business/finance/warren-buffett-tells-citigroup-ceo-fraser-keep-going-with-overhaul-source-2024-01-20/

I'm curious to see who has been demoted as part of the restructuring.

Was told getting bonus and comp increase but verbally only

How many layers will be impacted on Monday? Just EMT-4 or even later below that?

Hoping there is good news in aml in tampa and ny…

Will loan ops be affected?

Got the news yesterday. Last day is 1/31. I'm part of Wealth and about half the team has been wiped out. Doesn't really seem to be a pattern/reason as to why certain people were selected to stay vs get let go. I guess McKinsey logic.

I know during November layoffs MDs who were impacted were notified a week before the official announcement went out

Any O&T updates across the regions? Are these teams safe if in strategic locations?