Surely this option would benefit most - some people want to leave anyway and then there is more room for those who want to stay.
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CIti wants the talent and Citi wants the long hours. They just don’t want to pay for it.
Yes, if they offered a voluntary layoff, the talent pool would very quickly diminish at Citi at an exponential rate.
To the OP Post ID: @OP+1qKEmTmA The employees who will jump at the chance for voluntary Layoffs will be the ones who have options, in-demand skills and knowledge and know they can get job offers sooner rather than later if they don't already have a job offer(s) in hand. These are the employees Citi and other Employers do Not want to Layoff.
Post ID: @1jeq+1qKEmTmA What you said may be true. But most people do Not want Only two-thirds of their bonus. They want 100% of their bonus if they're willing to be voluntarily chosen to get Laidoff.
I honestly volunteered and was told no by my manager. Been complaining about this place since day 1. Slow tech, legacy systems, dysfunctional processes, terrible people, the list goes on.
Not gonna happen. The dust wouldn't clear for days!
Indeed... There are many interested opt this option to move out if org willing to provide severance... I would suggest better they can create a url/interface, so that interested folks can submit.
These replies are somewhat inaccurate; it was reported in the media 1-2 months ago that vol. redundancy WAS offered, at least to some people, and allegedly they'd get 2/3rd of their bonus.
Depending on your relationship with your boss, you could ask "Do you know if people are being offered it?"
If someone wants to leave, they should leave and get happy instead of feeling entitled
Because they don’t want random layoffs of any role. They are specifically targeted specific roles due to restructuring.
I agree with the fear factor. That said, I was told someone asked to be chosen since he could do it and was worried for teammates who need the job. And when the cut came, he was the one cut. Not sure if this is just a fluke. Many years ago at another company I asked to be laid off during a restructuring. My team was being reduce and only 1 of 2 managers was going to be allowed to stay. I had a newborn and could afford stay home for a couple of months. My coworker was a single mother and my boss agreed. So it can happen.
That would reduce the fear factor. Citi can't have that.