Things would not be so bad if they’d not cause such costly mistakes. Last year giving away 900 million to the wrong company, this year a huge flash crash caused by a mistake.
https://www.bloomberg.com/news/articles/2022-05-02/citi-s-london-trading-desk-behind-rare-european-flash-crash
They are probably working on a revised severance policy first. Gotta make the shareholders as much money as possible. With rates rising, expect things to get very uncomfortable on the mortgage side over the next few months. Time studies, longer hours, people leaving, forcing people to come into the office everyday. They will try everything. They don't want to pay severance. It's a known fact at this point.
Layoff rumors are started by management to create a work environment of Fear, Uncertainty and Doubt!
I’ve yet to work 1 month in 8 years that there was NOT a rumor of a layoff.