I don't see a long-term future here anymore. I don't think anybody should.
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Seems no more layoff..it's been long I have heard it around.
@bd I was at C for 3 decades - there was a constant fear of layoffs starting around 2005. This is also around the same time C (and most fortune 100) got rid of pensions and the "old" wall street severance model.
It also coincides with the start of landslide of business unit divestitures that C has been engaged in non-stop since 2006 (approximately 180 business units and ~100K employees divested since then.)
Citi has been "right sizing" "down sizing" "transforming" "becoming competitive" "shedding underperforming businesses" for 2 decades. Still, now, the same terms, the same "goal", etc - it never changes - always chasing the moving goal post.
So, in short, none of this layoff stuff is new, C lays off people every year, rehires more people every year and the constant churn of employees.
Anyone who claims "Citi is going downhill fast" has been at the company for <10 years for sure.
@ee Jane was GBC CEO before global CEO
Been going on for years. When you consistently install CEOs from the ICG, that's what happens.
@OP Do you think other companies are not going through the same thing? Look at last comms from HSBC about 20k redundancies due to AI
Grapes are sour
@bd+1
It’s by design. The constant stress and pressure drives people away. If people leave on their own, there’s no severance to payout, it’s cheaper.
For anyone prone to anxiety, these last few years have been especially hellish working for Citi. The threat of layoffs is always looming, it’s exhausting.
@af Um... Suggestions - open your eyes/ears, pay attnetion, read the news, google, etc. If you don't know what's going on you there and it doesn't frighten you, you should definitely stay put - you are just what they want, the perfect employee for the imperfect company.
@OP 100%, it is the beginning (or middle) of the end for Citi, good riddance!
Very vague. Elaborate.