citifinancial layoffs
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concerned

Coaldale, PA

#1 Apr 2, 2007
Any updates on layoffs at Citifinancial?
Does it only involve the Managing Direc and Rm or will it be extended down further.How will they determine who gets cut?Can people bump others ?
anonymous

Columbia, MD

#2 Apr 11, 2007
Involves everyone down to branch staff
Cant say right now

Jacksonville, TX

#3 Apr 12, 2007
Harry Goff retired. Frank Deleo, Tony Cutiper, and a couple of others were let go today.

Since: Apr 07

The Colony, TX

#4 Apr 12, 2007
The conference call did nothing for us but add more questions. I loved the whole premise of the QA period. All it really consisted of was questions and no answers. All they kept saying was "we will know more next week, after the upper management meets". We lost our RM, Tony Kutiper, today. I am sad to see him go, he is a really great guy and I really liked him. I did not know that Frank was let go also.
I am in a city that has 2 big branches (they are both close to if not at least $10 mil branches). One is an ESC and the other is supposed to be starting the Excell program this summer. What are they going to do with us? Are they going to keep the high performers when/if they consolidate us? I really feel like my BM and DM are holding out on information. I do not trust them one bit. We have been asking them for weeks about this and they have been playing stupid and acting like they do not know anything. They are telling us not to talk about it and spread rumors. What are we supposed to do when they are not giving us the details so that we arent speculating about it?
newbie

The Colony, TX

#5 Apr 12, 2007
They said 300 employees and 78 branches will be either cut or consolidated.

Hey, just curious, what heppens if they find out a BM and DM are sleeping together?
on shakey ground in Tx

Gatesville, TX

#6 Apr 12, 2007
concerned wrote:
Any updates on layoffs at Citifinancial?
Does it only involve the Managing Direc and Rm or will it be extended down further.How will they determine who gets cut?Can people bump others ?
I know my rm was cut today and appears the md is also gone and well we know what Harry Goff did it's crazy all this is over a 30 something year old arabic prince and how did we not have a watchdog group keeping an eye out on who was buying up all our stock now we are all at the mercy of him and his demanding we cut expenses but since he is now the majority shareholder he has controlling intrest in citi and they will do what he ask's . I don't think anyone is safe we were told branches would not be touched and now overall approv 78 branches closed or sonsolidated ????????? what a line
on shakey ground in Tx

Gatesville, TX

#7 Apr 12, 2007
Hey so how many of us re-cycle fax paper and memos to save money and shake the toner a jillion times because the micr toners are so expensive . I think the branches work the hardest to make the most money for the company and to control costs what with our 1 to 3 % raises that should have saved a bundle right there. So why are the layoffs impacting us in this way . If Frank Deleo is gone then I feel this company isn't safe for anyone he is about the most dedicated person I know . It seems we bust hump to be recognised and rewarded should we have been just avg and go unnoticed??? Im really wondering . I know how about we stop opening a million new branches and take care of what we have now. That will save a bundle!!!!!
citifidallas

The Colony, TX

#8 Apr 12, 2007
on shakey ground in Tx wrote:
<quoted text> I I don't think anyone is safe we were told branches would not be touched and now overall approv 78 branches closed or sonsolidated ????????? what a line
What I dont understand is how they are projecting to open more branches but they are closing some now? Whats with all of the contradictions?
citifiCA

Hilo, HI

#9 Apr 12, 2007
Does anyone have any layoff info about Citifinancial in California?
Citifinancial Dude

Tampa, FL

#10 Apr 13, 2007
newbie wrote:
They said 300 employees and 78 branches will be either cut or consolidated.
Hey, just curious, what heppens if they find out a BM and DM are sleeping together?
Seems like that is common in this company
on shakey ground in Tx

Gatesville, TX

#11 Apr 14, 2007
I bet Marge and Bob are mopping their brow right about now and thanking god that they got out when they did .I bet they saw the direction this company was headed and decided they didn't want to be a part of a pit bull company when they were here we were the Citi Family now its just Citi "Financial" all about the finances screw the family part of it !!!!!!!!! They were SMART and RIGHT ON!
on shakey ground in Tx

Gatesville, TX

#12 Apr 14, 2007
I also got a heads up some key citibank managers in the Bryan-College Station area got the axe yesterday.
Compliance

United States

#13 Apr 14, 2007
Anyone from compliance got hit? It would be nice to see their back.
dont worry

Memphis, TN

#14 Apr 15, 2007
I hate to make a comment at a time like this for all the loyal employees. However I was a former citifinancial employee for 13 years and was let go a year ago. They kept everything hush, hush for two weeks and then bam! I was gone. I never thought there was life after citifinancial, but hey there is. I know management that was involved in the decision to let me go, are gone now. They know who they are and now they will know how I felt degraded after all the loyalty. And by the way, watch where you cut expenses. I re-cycled paper aswell and that was one of the reasons that lead to my termination. Good luck to all of you. My advise. Start looking for a job now, they will give you no notice to your layoff. And also watch your stock. I was given the run a round for weeks before I could exercise them. No one cared about what was mine and any concerns I had with what I felt I had earned with in my time with the company.
texas

Memphis, TN

#15 Apr 15, 2007
on shakey ground in Tx wrote:
Hey so how many of us re-cycle fax paper and memos to save money and shake the toner a jillion times because the micr toners are so expensive . I think the branches work the hardest to make the most money for the company and to control costs what with our 1 to 3 % raises that should have saved a bundle right there. So why are the layoffs impacting us in this way . If Frank Deleo is gone then I feel this company isn't safe for anyone he is about the most dedicated person I know . It seems we bust hump to be recognised and rewarded should we have been just avg and go unnoticed??? Im really wondering . I know how about we stop opening a million new branches and take care of what we have now. That will save a bundle!!!!!
Yeah, but they don't care. Everyone in upper management is only there to protect themselfes. My advise to you. Start looking for a job now! There are companies out there that "do care". Just think how many times have you had to go to work sick or work late month end and it was your wifes/moms/childs birthday and could not be there on their special day. How many times were you asked to call that past due account more than just one time. I can go on and on. Take your loyalty elswhere and get what you deserve from your employer.
texas anonymous

Memphis, TN

#16 Apr 15, 2007
I heard Tim Everett was let go. Too bad it took company cut backs to see him go. He should have been gone along time ago.
PLEASE spare us the lies

Spring Hill, TN

#17 Apr 15, 2007
I hate to make a comment at a time like this for all the loyal employees. However I was a former citifinancial employee for 13 years and was let go a year ago. They kept everything hush, hush for two weeks and then bam!...
ok hOLD THE PHONE... I'm betting CASH the BAM was due to an internal investigation and you were busted doing something stupid you definately and especially now know was wrong...
texas anonymous

Memphis, TN

#18 Apr 15, 2007
PLEASE spare us the lies wrote:
I hate to make a comment at a time like this for all the loyal employees. However I was a former citifinancial employee for 13 years and was let go a year ago. They kept everything hush, hush for two weeks and then bam!...
ok hOLD THE PHONE... I'm betting CASH the BAM was due to an internal investigation and you were busted doing something stupid you definately and especially now know was wrong...
No your wrong! I did nothing that was against company policy. Always passed audits and bonused every year I was a manager. Mentor'd 4 branch managers and so on.... I was a very successful employee/BM. I definately did nothing wrong!
Dallas Texas

Warren, NJ

#20 Apr 16, 2007
I heard Russell Canady was also let go. What a travesty. He was intelligent and had a great sence of humor. He taught me more than I would have ever known.
Loss of a Great Man

Irving, TX

#21 Apr 16, 2007
One of the last true class acts, Mr. DeLeo has been let go. Someone explain to me how an MD with the best numbers in the company can get let go. Anyone else heard of any other MD's getting let go. I sure haven't. I am sure that anyone who has had the pleasure of meeting him would share my concern. This has to be a personal attack of some kind. Its too bad that hard work and dedication for over 20 years gets you the axe. I would jump ship here in a second to follow Frank, and I know many who would agree. We love you Frank and good luck.

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