Fraser repeatedly said this will all be complete by Q1 2024, but now all of a sudden, it's through 2026. Anyone surprised?

When will we finally find out exactly what is going to happen and when? The wait is becoming unbearable.

Been here 5 years, find it much better than where I was (another bank not be named). Culture is so much better here. Maybe I'm lucky and in a good spot, but I am very excited about the future. There will always be folks who aren't happy with their... — read more 

My boss told our team that he expects the bulk of tech layoffs to happen in non-strategic cost centers like Singapore, Dublin and China etc. He thinks that people will be safer in certain designated hubs. He attends in a lot of the TTS Tech... — read more 

The employees are not skilled enough and the company hasn't put any effort to build up both Business and Technical skills. Doing politics and relying on consultants or contractors won't help much. Real talented employees are not respected and are... — read more 

Part of the fault lay with adopting to Citi’s work culture. The work culture is to put in extra extra hours. This is a drive to do more with less. It gives the impression that we’ve got enough people. If going forward every employee ONLY worked 8... — read more 

It is obvious - people at Citi are just not as smart as the people in other places like Goldman or JPM - simple as that. Mark Mason is a graduate of the world-renowned... wait for it ... Howard University :D:D:D I can see that in my colleagues - 95%+... — read more 

Take a lesson from Citi and follow Citi’s lead. Give Citi the same amount of loyalty as they give you. Show as much competency in your job as Jane does hers. Show as much expertise in your role as the CFO does in their role. Care enough about... — read more 

https://m.youtube.com/watch?v=Muw0tWlvdYw It’s frustrating to listen to such interviews. The lady asked a straight forward question - where are you going to extract the most resources from and he is… you listen to it..

For some people the current cuts will serve as a wake-up call. Due to the easy money that was printed in the past 15+y, many people had a pretty good ride without putting either the work or having the education needed. People like project managers... — read more 

I know upper management could care less but board really should give this site more than a passing glance. Some of its good, some bad, some fear mongering, some outright wrong and some outright true. I guess the challenge would be how would you... — read more 

If you’re let go, you are on the job hunt. If you are not, then you’ll be expected to pick up the slack for those that were let go, which means double the hours but certainly not double the pay. Your raise and bonus (if any) will be at the absolute... — read more 

Seriously, they have boiler plate layoff templates, so you don’t need HR for layoffs. They have automated processes that scrub resume’s, so you don’t need HR for that. They have HR chatbots to answer basic questions, so you don’t need HR for that... — read more 

Going to be bumpy.....

I need countries, levels (C13-15), and sub-divisions (credit, market, ops etc). Thanks.

https://www.cnn.com/2024/01/12/investing/citigroup-layoffs-earnings/index.html

Can anyone shed light on what the severance packages are looking like? I've heard from past layoffs that it was a couple months of pay (while possibly still working there) and then 2 weeks for each year worked (capped at 52 weeks). Is still... — read more 

There aren’t 20 thousand VPs and SVPs in the tech arena. Citi wants 24x7 coverage on all things tech but does not want to staff for it, so they run lean already. The true problem that they will run into is that: a.) The tech sector has a very... — read more 

Cant count how many "townhalls" and other "transparent" calls and zooms the question was asked since last Sept about what % of employees were getting cut. Every time the response was "there is no %". BS. It's 10% now and it was 10% all along. .. — read more 

The mentality of “bringing in the new and managing out the old” pertains more to management than the regular employees. You have the old guard in play with old guard thinking. We need leaders who can think outside the box, innovate, and that are... — read more 

https://www.reuters.com/business/finance/citigroup-sees-headcount-dropping-20000-by-2026-2024-01-12/ So will this negative layoff environment continue for 2 more years? If 20k layoffs by 2026, any idea the % next week vs next 2 years? For example... — read more 

If the plan is to announce 1/22, bad news will be shared privately next week.

Most SVP's will be eliminated. SVP's will be moved as Technical resources than Management resources.

Is Jan 22 the so called medium term? or sometime later?

"Citigroup on Friday posted a $1.8 billion fourth-quarter loss after booking several large charges tied to overseas risks, last year’s regional banking crisis and CEO Jane Fraser’s corporate overhaul." Smart corporate strategy paid off. So, the... — read more 

I think it’s most irritating they could not begin it any sooner, and do we take “medium term” to mean the trimming will go on until March 31…for years to come?

Well done, Jane!

I have lot of people from project management offices PMOs (sometimes same ones) reaching out regarding same items? They have taken me to a point where I am like so annoyed of this bureaucracy

Citi has no intention of becoming a better bank. They are cutting younger people and/or those with less years of service in order to save on severance while keeping the dinosaurs who have no innovation no degrees and no experience other than the same... — read more 

Where can I find the link for earnings call? Do not see it in the HUB. Can someone point me to it?

I'll tell you. They mean squat! They should be eliminated.

https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/citigroup-s-cfo-mark-mason-reclaims-spot-as-highest-paid-bank-cfo-in-2022-77211999

I feel like I am a 3, a valued contributor. I told my manager I disagreed with this rating. I felt my peers deserved it more. I am not a favorite here and don't understand why I received it. Manager disagrees with me. I have not shared my... — read more 

https://www.efinancialcareers.com/news/2024/01/citi-delayed-bonuses

15 months at Citi and awaiting to hear my fate. Sh-t su-ks a-s.

I am wondering, as a relatively new joiner, will HR take into account the full background/CV of the person when taking the decision to sack? Or only time spent at Citi?

If Pay cut is an option , are you willing to take it ? or leave Citi ?

With https://finance.yahoo.com/news/citigroup-report-780-million-restructuring-214823471.html Just a brainstorm of what to expect in coming days : More contractors to go More new joiners to go - minimal severance pays More low profiles to go -... — read more 

The fish rots from the head. https://www.cnbc.com/amp/2024/01/10/citigroup-risk-quarterly-loss-after-disclosing-charges.html