citi auto
goodbye Auto

New York, NY

#1977 May 20, 2010
I was told yesterday by an employee of Santander that they are buying the auto portfolio, 7.1.2010??/
its going to happen

Salt Lake City, UT

#1978 May 20, 2010
goodbye Auto wrote:
I was told yesterday by an employee of Santander that they are buying the auto portfolio, 7.1.2010??/
I heard the same thing and that Citi is closing down operations. Like what HSBC did.
The Fixer

United States

#1979 May 20, 2010
Don't be suprised if July 1 comes and goes, and you're still getting a Citi pay check.

I'm betting an upcomming overall market melt down will erase any potential buyer's cash/credit and the sale will stall.

But that just my opinion.
XYZ

Delhi, India

#1980 May 20, 2010
That seems to be the most frequent rumor out there right now. As with any deal, things can change quickly at the last minute though.Is there any official news regarding citi auto sale out ??
Itll Work Out Regardless

New York, NY

#1981 May 20, 2010
Remember people..2 years ago the entire company was hanging in the wind..A lot those people have moved on to bigger and better things..It will all work itself out.."Just the Fax" can you shed some light on the situation and information you're receiving.
XYZ

Delhi, India

#1982 May 20, 2010
does anyone know anything about the buyout?? come on, give us the scoop please....... the truth & not something silly....
curious

New York, NY

#1983 May 20, 2010
so how's the food at the new deli ? pretty good sandwhich ?
Good source

North Richland Hills, TX

#1984 May 20, 2010
Here's what I know... There was a meeting on Monday at Santander with IT people from Citi and Santander. There were approx. 10 people from Citi at the meeting to discuss systems. Seemed to be more posturing than anything. One solid piece of news did come out of the meeting. Santander has bought Citi Auto. The last day Citi auto will be providing funds for loans is June 30th. That day seems to be thrown around a lot and seems to have some meaning. There was no talk of a shut down date or the future of Citi Auto employees. Make your own conclusions from that info but it is from someone in the meeting.

Since: May 10

Location hidden

#1985 May 21, 2010
Has money actually changed hands though? If not then nothing is final. Seems like something would have leaked in the press by now if money had changed hands and the deal was final.
big sweaty

New York, NY

#1986 May 21, 2010
I don't know about anyone else but I think , " I Wanna Be Sedated", could possibly be hot.
Hold on a minute

Warren, NJ

#1987 May 21, 2010
Is there going to be any layoffs today? Because I want to leave early.
Ru4real

New York, NY

#1988 May 21, 2010
Hold on a minute wrote:
Is there going to be any layoffs today? Because I want to leave early.
I wanted to leave early too but...still here
Cynical in Colorado

Loveland, CO

#1989 May 23, 2010
So, if I am understanding correctly, Citi is being bought out by Santander, and we will be kept on as employees? Since we undubitalbly are going to be screwed out of any severance package....right? I believe this is really happening as we keep getting emails with required training on how to use "new systems". Please tell me if you think the health insurnace we currently have is about to change....on July 1st as many of you have predicted?
You are being watched

New York, NY

#1990 May 23, 2010
Less time on topix
more time in the queue
Devoted

Ringgold, GA

#1991 May 23, 2010
Cynical in Colorado wrote:
So, if I am understanding correctly, Citi is being bought out by Santander, and we will be kept on as employees? Since we undubitalbly are going to be screwed out of any severance package....right? I believe this is really happening as we keep getting emails with required training on how to use "new systems". Please tell me if you think the health insurnace we currently have is about to change....on July 1st as many of you have predicted?
If this info is factual, are you sure the employees are being retained by the new company? Also,, when would the announcement be made?
XYZ

Delhi, India

#1992 May 23, 2010
any tentative dates for any actual announcements...?????
Thomas Johansson_TX

New Delhi, India

#1993 May 24, 2010
Seems that it is officially all over now...
People in Citi Auto have started giving farewell parties.Seen 20-30 resignations in the last few months.Lots have moved out to other LOB's.The body language is saying it all.Everyones is busy giving interviews in different companies....Need to find a job somehow and a more stable and better one..
You can expect the official news in weeks time..Seems they will let all stakeholders know soon......
Good bye CFA!!!
Rakesh CitiFinancialInd ia

New Delhi, India

#1994 May 24, 2010
I think there is difference in Citi Financial India and Citi Financial Auto....Will Citi's India operations be impacted? what about Citi Financial Home loans/Mortagage/consuemer lending and retail units in Mumbai/Bangalore/Delhi/Pune etc.
We have absolutely no idea about this.....
some pls tell me impact of this on CITI India projects?
Garima Sharma Corp lawyer

New Delhi, India

#1995 May 24, 2010
CITI India's mortage divisions are going to remain un -impacted however you may see some radical changes in Citi Home loans,division in India..Rest no one knows CITI India may follow suit??
Rakesh CitiFinancialInd ia

New Delhi, India

#1996 May 24, 2010
Thanks alot madam !!!,
I am relieved to know that the mortage divisions in Citi India are not going to be impacted...

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