#financialservices

Has anyone heard anything, im struggling financially now after years of no rises. Grocery and other costs are astronomical. Its an urgent issue now.

No matter where you work, you should work toward accumulating a financial base to where you can tell anyone that they can go “F’ yourself”. This takes time, a lifetime in some cases but it can be done.

Don’t spend your raises or bonus’s and funnel your extra money into investments. On raises and bonus’s, put about 10% of that aside to reward yourself but be as frugal as you can be. Now Citi does not make this easy as they are extremely lacking in rewards for a job well done but still this is an achievable goal. Work toward a 1 month pay in liquid cash, then 3 months. Put this amount in a CD at a fixed interest rate. Then work toward 6 months, put this into a CD. Then 9 months, same thing, then a full year same thing. Again this takes time. Once done though, as they mature, you’ll be faced with a decision to cash them in or roll them over. Stagger each CD purchase to where they don’t all mature at once. I get it, I really do. This is not a quick fix, its not a fast turn around and you have to spend money to live. It’s a choice though that’s worth the sacrifice. Max out your 401K always.

Resist the urge to have the latest and greatest Iphone, entertainment center, PC, car….etc. … Work hard toward wealth, not money. Build enough wealth to where you don’t care what Citi does. Enough cash reserves to where if you get let go, its of no significance to your life.

If this is so great and fail safe why am I still working at Citi, you may be thinking. I have a good gig. I’m happy and I get paid. Should Citi ever deem my employment no longer needed, that’s ok too. Should Citi ever do or mandate something that I don’t care for, no issue there, I’ll just walk. Simple as that.

I admit, its not always been that way but like I said, this takes a tremendous amount of time and its exponentially harder to do if you have kids but this is what Citi hinges on. They rely on your desperation, your continued need to have to have this job. The more desperate you are, the more you can be abused and strong armed to work crazy hours with the implied “or else” that’s aways preached. They are masters at telling you several things to enforce this. Key phrases such as “its a bad job market out there” , “better the devil you know”, “other banks operate just like this” and on and on. At times all of this is true, at times only some of it and at times none of it is true.

There are other job sectors to look into you know. Citi would have you believe that this is the only place you can ever work and this is the only place that would ever employ you. It’ll do you no good to ever look anywhere else for a job, this is as good as its ever going to get in your life. This is just not true so don’t buy into it.

Work hard, invest what you can, invest in yourself as well (skillset), be patient, network outside of Citi, take care of your heath and work toward the goal of having enough money to where you walk away anytime you want to.

First quarter of 2026

Out of curiosity I did some AI based research to see how and when a company must account for severence expenses under GAAP, taking into consideration 60 day notice periods, and basically they can incur the expense when they notify you so long as their is little chance of a reversal. additionally. if they have already made their lists for the first part of 2026 (q1/2) and are certain those positions are going away they can take the expense earlier such as in the $612MM hit we took this past quarter. So while severance expenses are expected to be lower by $700MM in 2026, part of the reason they can say that is that layoffs happening in the next few months are already paid for.

https://www.reuters.com/legal/transactional/blackrock-cut-around-250-jobs-latest-layoffs-2026-01-13/

Does anyone know if the bonus payout is similar to last years?

More layoffs this year

It’s coming

https://www.investing.com/news/stock-market-news/cvs-unitedhealth-cigna-accused-of-diverting-billions-via-shell-firms-93CH-4433238

Follow the money.

This begs the question of how budgets were managed in such a way to not only reduce bonuses and promotions but eventually cause mass layoffs.

richard baker steps down and now they need $1 billion to keep the doors open. get your resume ready!

Other than a lot of buzzwords, what the he-l does it actually mean?

Keep hearing tunors of AML/ Finananciao crimes cuts in 26

They say inflation is going down since 2023 but I still see everything breaking the bank including basics like groceries to homes. Stock market is predicting a recession next year by end of year. Taking careful financial steps and planning next year is the key to survive.

If there is a global financial reset like they are talking about, employed or not, we’re all in trouble. Half the economist don’t want to talk about it out of fear that it’d cause a panic sell of stocks, which in turn expedites it. The other half have been singing it from the rafters as a warning. IF it does happen, your dollar is worthless. Your paycheck regardless of amount will all be equal, the same value, nada. What concerns me is that economist all over the globe are worried about the same thing and are leaning more toward a “when” instead of an “if” it will happen. Thoughts?

It’s the most recent layoff in an ongoing pattern. The bank has filed 19 WARN notices for 461 eliminated positions, and 40 more workers have been told they will be laid off in January 2026.

https://who13.com/news/metro-news/63-wells-fargo-employees-to-lose-jobs-on-december-26-more-to-come/

• Nordstrom
  Clothing company Nordstrom will lay off 36 remote employees from its credit division, with the first termination phase beginning on Feb. 21, 2026, as the company transitions its credit operations from Nordstrom Credit Bank to TD Bank.

Nordstrom Credit Bank is located in Colorado but has remote employees in Arizona who will be laid off as part of the transition.

The Colorado location was not closing but would retain only a few employees after the transition, Laura Duve, of Nordstrom’s human resources team, wrote in a letter to the Arizona Department of Economic Security.

1. Fiserv is billions of dollars in debt
   2.profits dropped by 25%
2. Clover lawsuit class action lawsuit underway.
3. Lawsuit from 44% drop in stock underway. Billions lost
4. Investment in AI with no immediate revenue stream to support it.
5. Investigation by Senate on contracts
6. Media stock analyst saying do not invest in Fiserv

Starting layoffs at agent level in merchant and card.

Looking to apply to a job within the Omaha office...any insights on this and the teams? I've heard some horror stories from people who have worked at Fiserv but don't see Omaha mentioned much? Looking for brutally honest answers, thank you in advance!

Are we riffing 15000 employees to pay for Frontier? Does the deal make financial sense with Verizon’s debt burden?

In another thread someone said the field is being targeted with layoffs now? Can anyone verify this and how widespread it is?

someone eli 5... how did Fiserv win so many awards until last year and fall this hard so fast?

Word on the FIS layoff thread is that TSYS team members who are moving over there will be laid off this month.

Notification went out today to TSYS team members who will remain part of GP and will not move to FIS. Current legal entity is TSYS and that will shift to Global Payments.

Talked to two Grade 8’s - both in FI, who are extremely confident that there will be some sort of RIF this month, maybe 11/18. Sounds like a sizable cut.

Another person I used to work with in PI Phones, high up, confirmed. Anyone else hearing anything?

Layoffs will be bigger than the 15% wave a year ago. The goodwill write down will be in excess of 1 billion, and that will lower the EV and push Debt to Equity to over 1000%. Access to debt markets will effectively cease, and vendors that aren't getting paid in a timely fashion will Dun XRX. Also, the fact that the patent sale hasn't produced any dollar amounts, or hype from SB, means it is probably a terrible deal. Those patents are part of the EV of XRX and will further degrade the value of the company on the next call.

I’m out. I’m a financial advisor in the cac. I feel like they have made me shove my nose up a moose an-s. I am heritage Bb&T and really thought we had something good. I am still mad about Tim and furious about Murdock (again. Seriously, the best guy in the company). I’m out. We are dropping like flies. This place is cr-p. I will say no more. It’s just bad from top down. I am out.

The first Monday of November is when layoffs were done the last 2 years. That allows your employment to extend into the following year and you get the annual bonus.

Stifel Chairman and Chief Executive Ronald Kruszewski on Wednesday sent a memo to the company’s employees, including 2,300 advisors, seeking to counter rising speculation that he could sell the 135-year-old firm.

“Let me be clear. Stifel is not being sold to Raymond James or to anyone else,” Kruszewski wrote in the memo, which referred to a report in industry publication WealthManagement.com.

The article had linked Stifel to a potential deal with regional rival Raymond James Financial. The publication cited anonymous sources who said that legal pressure and rising costs tied to barred Miami broker Chuck Roberts could put pressure on St​​ifel to sell and that Raymond James was discussed as a “likely buyer.”

Kruszewski called the report “ridiculous and misleading” and compared it to a “White House leak.”

“I’m just surprised Stifel isn’t being linked to Russian collusion,” Kruszewski wrote in the memo, titled “Setting the Record Straight (With a Smile).”

A Stifel spokesperson confirmed the memo but declined further comment.

Raymond James did not return requests for comment. Wednesday’s article noted that, “[I]t is unclear how formal the talks are between the firms or if an agreement is imminent.”

Raymond James trades at a market capitalization of around $31 billion compared to Stifel’s $12 billion. The St. Petersburg, Florida-based firm has around 8,900 brokers.

“I know the folks at Raymond James,” wrote Kruszewski, who has led Stifel since 1997. “They’re a nice company, but let’s be honest, I believe Stifel is number one.”

The question of a sale surfaced last week on Stifel’s third quarter earnings call during which BMO Capital Markets analyst Brennan Hawken asked about whether the company was for sale and noted that, “Many investors believe that [it] can make for a good target.”

Kruszewski, 67, responded that there was “no need” to sell the company and that questions seem to be driven by concerns about whether he could run out of energy and want to sell.

“That ain’t the case here,” Kruszewski said on the call. “I’m not looking to do anything.”

A source close to the company said that Kruszewski was concerned following the earnings call that plans to sell its non-core independent brokerage business had been conflated with an intention to sell the company.

Stifel on Monday announced it had agreed to sell its $9 billion-asset independent contractor unit to Equitable Advisors, confirming a report earlier this month.

Common Wealth said the same thing and they sold like 4 months later. I definatley think they are selling now.

https://www.morningstar.com/news/marketwatch/20251029375/fiservs-former-ceo-left-the-fintech-company-in-crisis-trump-put-him-in-charge-of-social-security

Heard all 5's will be let go in the first week of December as opposed to usual January round. True?

Looks like rumors were true all those people will be laid off.

https://www.advisorhub.com/exclusive-stifel-to-sell-indie-brokerage-unit-to-equitable-advisors/

any know why?

Reorg coming this week is what we are hearing especially in San Diego

I hope you're all doing well. Have you noticed how our Chief People Leader (er... Eater) recognizes World Mental Health Day by celebrating our contract partnership and collaboration with Spring Health and how this is powering our culture? Spring Health, for its part, is also quick to point out the partnership and how wonderful it is that BNY recognizes and prioritizes mental health concerns by offering employee coverage.

What's truly astonishing in all of this corporate speak, though, is that BNY senior leaders fail to publicly acknowledge their role in contributing to associate mental health challenges caused by a toxic BNY culture in the first place. Something's definitely wrong with how the narrative is being framed.

We should be celebrating our people and sharing stories about what the company is doing to provide further assistance. Celebrating our vendor relationship with Spring Health and bragging about facility unwind rooms on social media is simply not the best message for what is being done to create an 'amazing work culture' for our associates.

I am a manager with a team taking calls for a big mutual funds client.. It was not communicated officially but there is chatter that they don't want our service anymore, looks like it's a done deal. We don't know if that means layoffs for all our teams... Zero official communication and the team morale is below zero. Anyone got any more information to share about this?

https://x.com/realmattforney/status/1976861104736223445?s=46

How do you think we are going to achieve it? By singing kumbaya? By cutting staff you fools.

Is anyone hearing of ISPs getting hired back? Or was that just a ruse?

Another performative meeting. Same fake smiles, same empty hype. The opener must’ve said “I’m so excited” five times — and I couldn’t tell if he was convincing us or himself. These things are so staged it’s painful. Nothing real, nothing transparent. At this point, soap operas feel more honest. At least actors admit they’re performing.