Why is citi still hiring and issuing offer letters and not doing a freeze when we are laying off thousands . Or is the company planning to sacrifice those newer ones during the culling
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IMO- Joining now will be a mistake
Interesting , One of my friend had an offer from CITI. I think I should advise him against joining citi
Anything advertising is safe. Every role you see is signed off at MD level in the business office and LOB.
Not sure why they are posting roles, releasing offers and potentially those joining now may be first in list for next SVP/VP level layoffs (which will make most of the remaining layoff list). Almost zero compensation for new joiners in first year.
I haven't seen anything advertising for candidates. Two years ago, Citi was hiring left and right. Maybe thats the problem now.
Citi cutting jobs in London.
Recession is coming. All because of pure greed. The stock market at 36000 but not enough for greed driven economy. The economy was fine until one company starts firing workers and others blindly follow. Inflation was high because of pandemic, but it has been coming down for 9 months. Now, with recession it will slow the economy and create a self fulling cycle of economic downturn.
Citi has been making billions every year but their stock price is stuck at 40s. The layoffs are to falsely inflate stock price in short term. Nothing new.
What on earth are you talking about? There are virtually no jobs available to people outside the company.
Was supposed to be interviewing a candidate for a senior tech role today. Role has been open for most of the year (couldn't find the right candidate), but just been informed the position is now closed due to a global hiring freeze.
Restructuring aside, every large financial firm is struggling with historically low rates of attrition.
For the past 3-4 months there have been committees implemented across each org to critically review and approve requisitions. A large majority of what goes to them gets declined or has been purposefully delayed. Leadership has deemed these roles critical.
They also want to have jobs posted because if you don’t list anything on LinkedIn or your career website it’s really bad for business.
No major company nowadays gives priority to its current employees when it comes to hiring. That is the reality. Same goes in the opposite direction - employees do not give a s**t about the company...
Citi IS in a hiring freeze. Citi is delaying replacing employees who quit voluntarily and cancelling most open requisitions/jobs. Citi is hiring at a slower pace and has fewer job openings compared to last year and previous years.
Because no team manager will admit and allow moving their best employee to the team which still needs resources. It is not Citi problem, every financial company is the same