Citigroup Layoffs?
hortonwho

New York, NY

#6114 May 12, 2009
To "Waiting my turn" and "Getwithit" I wish I had more information for you. As I mentioned it will be gross orientated per branch. I'm appalled at the good people we've lost because of mismanagement and greed up top. So many lives have been pushed to the edge and stressed out, with so many more waiting for the call to the managers office. I come into this site to gather information to add to my own and try to make some sense of it. Not all here know from where they speak if you get my drift. Some are just plain agitators. I will continue to keep my ears open and if I hear ANYTHING I will let everyone know. If you are in a SB branch and it's holding it's numbers (business) you'll be fine. I've heard some consolidating in the research area, however, remember that with the JV going on and even though Morgan Stanley has it's own research, we will be consolidating with each other. It's not much, but all I know for now.
ex beneficial employee

Bremen, IN

#6115 May 12, 2009
In the dark wrote:
<quoted text>
Thanks for brightning up my day
I'm sorry if I upset you. I didn't mean to put a negative spin on an already stressful situation. I just wanted you all to know that there are worse things that could happen. Keep an eye on the internet. Read Bloomberg news or Vanguard market news. That's how I found out about our closings before they announced them to us. If they do close you down, or start laying off, it will either be the end of May or first of June to take care of the 30 days they have to give you before the new quarter starts. I know how nervous you all are, and I hope that whatever happens the sun will always shine on your face. good luck!
Messy Hair in Plainview

Paterson, NJ

#6116 May 13, 2009
ex beneficial employee wrote:
<quoted text>
I'm sorry if I upset you. I didn't mean to put a negative spin on an already stressful situation. I just wanted you all to know that there are worse things that could happen. Keep an eye on the internet. Read Bloomberg news or Vanguard market news. That's how I found out about our closings before they announced them to us. If they do close you down, or start laying off, it will either be the end of May or first of June to take care of the 30 days they have to give you before the new quarter starts. I know how nervous you all are, and I hope that whatever happens the sun will always shine on your face. good luck!
Hey come on, we all have to face reality here and realize that this company has been poorly run by a bunch of cheats starting with Sandy in 1998 followed by Prince and now Bandit...not to mention Rubin. We all have to grow up and smell the coffee and realize that we will all be out of work soon. Instead of sulking, everyone needs to get their resume togeteher and start pounding the pavement looking for employment with a good company. A company that appreciates it's employees and rewards them accordingly and doesn't outsource all of the jobs to India. Let's face it, Citi is over loaded with mid-level managers who call themselves Directors wo are totally useless. Not only don't they do any meaningful work, but due to their overall ignorance, are actually a hinderance to us all.
PIPd One

Spokane, WA

#6117 May 13, 2009
Messy Hair in Plainview wrote:
<quoted text>
Hey come on, we all have to face reality here and realize that this company has been poorly run by a bunch of cheats starting with Sandy in 1998 followed by Prince and now Bandit...not to mention Rubin. We all have to grow up and smell the coffee and realize that we will all be out of work soon. Instead of sulking, everyone needs to get their resume togeteher and start pounding the pavement looking for employment with a good company. A company that appreciates it's employees and rewards them accordingly and doesn't outsource all of the jobs to India. Let's face it, Citi is over loaded with mid-level managers who call themselves Directors wo are totally useless. Not only don't they do any meaningful work, but due to their overall ignorance, are actually a hinderance to us all.
How much money would Citi save by cutting out at least 1 or 2 levels of middle management. Is it really necessary to have an Area Director and District Manager who are essentially doing the same thing? Why not cut out the AD level, DM's can interact with EVPs. AD's don't interact with the customer on a daily basis, so why keep em around?
DElockbox

Baldwin, MD

#6118 May 13, 2009
and with all the layoffs, they still bring temps in here, go figure
Causiously Optimistic

Saddle Brook, NJ

#6119 May 13, 2009
Get Real wrote:
<quoted text>
obviously you are one of the people that citigroup was just requesting permission from the government to give a bonus to. also, their profit loss was not due to giving everyone who works their ass off to keep this company going a measely 2% merit increase....get REAL!
Nope, just an American that looks at the bigger picture and is glad to have a job and knows what it is like to be laid off and out of work for 10 months. I realize that I was fortunate at the time to get a new job at all and I was very close to having to make some really bad decisions regarding my home and 401k. I had went through my severance and my savings. I wouldn't wish being JD'd to anyone and if not paying the 2% increase saved jobs, which I believe it probably did, it was the right thing to do.

It is unfortunate on this board that if someone disgrees with what another says they are attacked. If you only knew how far down the food chain that I am and not one of the folks that would be in the rarified air of the exception folks senior management wants to look out for. I'm just a person in O & T and doesn't bring in revenue, only costs the firm $$$ as in expenses. Get your facts straight.
CitiSleeps

East Elmhurst, NY

#6120 May 13, 2009
"Causiously Optimistic" - couldn't have said it better
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Mississauga, Canada

#6121 May 13, 2009
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tigergirl4

New Haven, MO

#6122 May 14, 2009
i was told by two people today that either they moved to loss mit, or would lose their jobs at Progress Point. that is basically the only department hiring, and go figure. with the mortgage crisis at is highest, help is needed to field all the calls from borrowers begging for help.
Waiting for my turn

Wentzville, MO

#6123 May 15, 2009
Looks bad for me. They said I may be out very soon then they set up a meeting with big boss on Monday. Will let you know how it goes.
O Fallon Fred

Barbourville, KY

#6124 May 15, 2009
tigergirl4 wrote:
i was told by two people today that either they moved to loss mit, or would lose their jobs at Progress Point. that is basically the only department hiring, and go figure. with the mortgage crisis at is highest, help is needed to field all the calls from borrowers begging for help.
I've also seen jobs posted for retail sales.
Trouble in Hagerstown

Hagerstown, MD

#6125 May 15, 2009
Heard rumor that Hag did not add up sales commissions correctly for the last year. I am hearing that they owe everyone about 30% more. I am sure it was an honest mistake though.

Since: May 09

Rego Park, NY

#6126 May 15, 2009
Waiting for my turn wrote:
Looks bad for me. They said I may be out very soon then they set up a meeting with big boss on Monday. Will let you know how it goes.
Sorry to hear -good luck
all in the same bloody boat
Outsourced

Ransom, KY

#6127 May 16, 2009
There would more layoffs in UK by June/July majorly in business where they look after their Operations. Most of the jobs are now outsourced to TCS/Wipro and some are offshored to Philipines also.

I dont understand the Political concept where Govt says no job is being outsource but are they really looking to see if they are been outsourced or not. All the Taxpayers money is being given to save the banks and also to other companies outside the countries.
thebigchub

Cresco, PA

#6128 May 16, 2009
oooh yeah
coinpurse

Cresco, PA

#6129 May 16, 2009
its a global community....hahaha...globaliz ation is good...really?
one rib

Sunnyvale, CA

#6130 May 16, 2009
I show am hungry
Still Unresolved

Orange Park, FL

#6131 May 19, 2009
Hows this one for you all??? Pension funds unresolved for 7 months from Connect One. It has taken 7 months for a single item to be resolved, that still isn't resolved. Absolutely INSANITY. They claim it isn't their problem but State Streets, passing the buck!!!!
Cguy

Santa Monica, CA

#6132 May 19, 2009
Still Unresolved wrote:
Hows this one for you all??? Pension funds unresolved for 7 months from Connect One. It has taken 7 months for a single item to be resolved, that still isn't resolved. Absolutely INSANITY. They claim it isn't their problem but State Streets, passing the buck!!!!
It sounds like it's a really bad thing. However, I don't understand what "pension funds unresolved" means. Please explain.
Sam

Cornelius, NC

#6133 May 21, 2009
Recently, through all of the mortgage meltdown Hoopla, after the company received Billions of dollars in Bailout Money, and all the hot air from Obama about putting Americans back to work...guess what??? They recently announced that Citi Mortgage will be sending some of the mortgage processing, underwriting, and Closing functions to a company whose goal is to become the largest offshore outsourcing company. Citi using TARP funds and Bailout money to pay some Indian who has about ten minutes of training to do MY job. If you apply for a mortgage loan through C chances are some person in India will be your contact and will have access to your entire personal profile including SSN, bank account numbers, credit report, everything!! And hundreds of Americans will have lost their jobs. It is SICK. Enough already.

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