Citigroup Layoffs?
Free

New York, NY

#1051 Jan 17, 2008
i hope they did the right thing and credited you for 10 years. do you know how many people and what IT depts were hit?
casa

College Point, NY

#1052 Jan 17, 2008
Free wrote:
i hope they did the right thing and credited you for 10 years. do you know how many people and what IT depts were hit?
60 days pay then 2 weeks for each year.
I know people in CIB and GECD were hit.
Current city employee

Baltimore, MD

#1053 Jan 17, 2008
Have layoffs in gcg begun (citibank, citifinancial, primerica, cards, citimortgage)? Or are these scheduled for the other big date we've hear -1/23?
cAJ

Freehold, NJ

#1054 Jan 17, 2008
I got laid off yesterday. I figure no hard feelings since I its always best to be ready anyway, especially with the current environment. Although, I was talking with my contact at BoA, and she told me that when they needed to do lay offs, they first offered "voluntary" layoffs, for the people that wanted to leave anyway. I don't see why they just didn't offer that first.
Not like it bothered me. I was thinking of quiting anyway, but now I am not only on the payroll, but I got a severance package from them. I think I am going to take a nice vacation before I start working again!! ;) Always look on the bright side guys! We can always find something better in the end!
(388G)
lol

New York, NY

#1055 Jan 17, 2008
Ex-Citibank employee_NY wrote:
I wish the best of luck to those writing on this site that lost their jobs. The one hope that I can offer you is that it may be best to get out now, before things get even worse at Citigroup, to the point of collapse. I hope that you get decent money from the severance to carry you for several weeks - the months of March, April and May are good times in finding work under normal circumstances.
i was let go last year while citi's stock above $50. Thanks for citi's policy that you must roll out 401k, i take out all of my 401k. other wise i will lose half of saving!!!
my experience in citi is like in the hell. poor managers, low HR's... i am so happy that i don't have suffer until now, or even worse, still in citi.
excitiemplvnv

Las Vegas, NV

#1056 Jan 17, 2008
Anyone impacted by these layoffs at The Lakes
site in Las Vegas?
Sorry to hear that

UK

#1057 Jan 17, 2008
Ex-Citibank employee_NY wrote:
If you can wait four years, hold on to your stock, otherwise sell them now before it goes below $20!
Citi stock is quite attractive right now but it will not make big gains until the institutions start buying. If it continues to delcine it is only a matter of time before a take over will happen, and the sum of all its parts is about $65 a share.
JC new layoff

Philadelphia, PA

#1058 Jan 17, 2008
lol wrote:
<quoted text>
i was let go last year while citi's stock above $50. Thanks for citi's policy that you must roll out 401k, i take out all of my 401k. other wise i will lose half of saving!!!
my experience in citi is like in the hell. poor managers, low HR's... i am so happy that i don't have suffer until now, or even worse, still in citi.
Hi,
Is the "citi's policy that you must roll out 401k" still effective now?
JC new layoff

Philadelphia, PA

#1059 Jan 17, 2008
lol wrote:
<quoted text>
Thanks for citi's policy that you must roll out 401k, i take out all of my 401k.
Does Citi still have such policy?
would love to volunteer

Astoria, NY

#1061 Jan 17, 2008
cAJ wrote:
I got laid off yesterday. I figure no hard feelings since I its always best to be ready anyway, especially with the current environment. Although, I was talking with my contact at BoA, and she told me that when they needed to do lay offs, they first offered "voluntary" layoffs, for the people that wanted to leave anyway. I don't see why they just didn't offer that first.
Not like it bothered me. I was thinking of quiting anyway, but now I am not only on the payroll, but I got a severance package from them. I think I am going to take a nice vacation before I start working again!! ;) Always look on the bright side guys! We can always find something better in the end!
(388G)
Glad to know that it worked out good for you. It certainly would have been nice for all parties, had they offered "voluntary" layoffs. Would have kept the goodwill for the company, and would have helped those who wanted to leave anyway. I am sure many of us do have some common reasons to leave - managers upon managers, who do not contribute in any productive way, but believe in lowering the morale of those who do REAL WORK - just to establish their authority, thereby contaminating the environment. Hopefully the new talent management team would take it upon itself to train the managers to manage talent in a productive and healthy way.
CitiEmp

Bel Air, MD

#1063 Jan 17, 2008
would love to volunteer wrote:
<quoted text>
managers upon managers, who do not contribute in any productive way, but believe in lowering the morale of those who do REAL WORK - just to establish their authority, thereby contaminating the environment.
Wow.. You have described my department to a tee..(388G)
layoffs memo

New York, NY

#1064 Jan 17, 2008
casa wrote:
Got laid off today from Jersey City, after almost 10 years. Not the only one of cause.
your will be fine.
Jan to March is the best time for looking a new job. after June it could be very slow.
- company start 2008's burget, they can start hire or open new position.
- people left their job after bonus pay out.
good luck.
citi's layoff just start - you don't want wait until job market suddently have 40k job seekers.
layoff good4u

Cambria Heights, NY

#1065 Jan 17, 2008
I got laid off from another company last year, then found another job and saw my salary increased by 30%! Just look on the bright side. Layoff may not actually be good for you (and definitely good for me)!
Ex-Citibank employee_NY

Newark, NJ

#1066 Jan 17, 2008
By the way, there are better HR departments in other companies. At my new company, they actually have a five-person HR department on site that is there to answer questions....completely unlike the Connect 1 garbage that Citi imposes on its employees. So there is a silver lining elsewhere!
United States 555

Plant City, FL

#1067 Jan 17, 2008
I TOO AM A CITI EMPLOYEE

*******FOR ALL THOSE PEOPLE WHO GOT LAYED OFF FROM CITI******

Do you know that you do not have to except the package they gave you. Do you now that you can get legal advise to negotiate our severance package. BEFORE YOU SIGN THE LETTER GIVING UP YOUR RIGHTS TO SUE....PLEASE GET LEGAL ADVISE OR GO TO THIS WEB SITE: http://careerprotection.com/freelegaladvice.h...

IF ANY OF YOU ARE OVER 40, PLEASE, PLEASE CONTACT YOUR LOCAL EEOC OFFICE FAST.
Ex-Citibank employee_NY

Newark, NJ

#1068 Jan 17, 2008
I wonder if Bob the Builder was either let go or maybe he was caught accessing this site at work in Citigroup?
United States 555

Plant City, FL

#1069 Jan 17, 2008
TO MY CO-WORKERS AND /OR FORMER CO-WORKERS...WE MUST FIGHT BACK.

PLEASE TAKE LEGAL ACTION BECAUSE THIS NOT RIGHT THAT SENIOR MANAGEMENT WALKS AWAY WITH MILLIONS!!

KNOW YOUR LEGAL RIGHTS...CONTACT THE EEOC, THE HUMAN RIGHTS COMMISSIONS, AND / OR A LAWYER!
layoffs memo

New York, NY

#1070 Jan 17, 2008
Ex-Citibank employee_NY wrote:
By the way, there are better HR departments in other companies. At my new company, they actually have a five-person HR department on site that is there to answer questions....completely unlike the Connect 1 garbage that Citi imposes on its employees. So there is a silver lining elsewhere!
unlike citi - most of company will let HR first to be cut. citi spent billions $$$ on garbage Connect 1 but don't invest a $ on ATM. i will not supprised when this fat boat sinked. if you go to other board, it's full of hate - current citi employee, ex-employee, citi share holder, citi customer.
the few valuable senior manager were get fired - look at JP, they get benefit of those talents that were kicked out by citi.
Ex-Citibank employee_NY

Newark, NJ

#1071 Jan 17, 2008
I agree. Citi used to be on the cutting edge of ATM technology. They are so far behind with their old ATMs (CATs) that are 15 years old and do not have check imaging capability. Citi has lost its way.....
citigirl

New York, NY

#1072 Jan 17, 2008
good luck to all...sad day...been with the citi 18 years and not part of this round, i'm sure the bastards will lower the payout for the next round, perhaps discontinue the extra 10, 16 or 26 weeks...so for those who did get it this round, it might be the best as far as payout is concerned

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