citifinancial layoffs
lincoln 2 lincoln

United States

#2888 May 17, 2010
do you know which division will be affected the most?
Brian

AOL

#2889 May 18, 2010
Cfna had to many branches , to close, in to rural of areas. Business has been bad/slow for a while. They should be offering layoffs, to those who want out, every company does that.
it is what it is

Waterloo, Canada

#2890 May 18, 2010
These 500 branches-US only...... or does this include all international branch locations?
Yes

United States

#2891 May 18, 2010
US Branches only at least for June 1st but as the company further positions itself for a buyout I'm sure there will be additional closings. I want to say I hope everyone keeps their job though we know this isn't a reality. It brings me no joy to report what little I know but I feel someone should say something. The cuts will be at almost all positions.
Wondering

United States

#2892 May 18, 2010
I have heard that ther is an abundant amount of PIPS and RODS being given out. Anyone know if that has something to do with the layoffs? Is the branches that are geting RODS & PIPS going to be on the closure list? Just seems odd. Quite a few branches are getting PIPED and RODED (everyone in the branch).
Yes too

Warren, NJ

#2893 May 18, 2010
I agree - many branches will close - how many, that I do not know. But just ask any DM why they have to complete all of their DMRs by month end? The answer is clear - announcement of branch closures, consolidations and layoffs on June 1 We knew this was coming; tightened score card, controlled lending, incentives driven by DLQ mainly, a big push for auto pay and asset sales. Best of luck to all with this month incentive in the CM roll it only makes sense given the eventual announcement in June.
Scared

Hampstead, NH

#2894 May 18, 2010
Test
on the front lines

Morrow, GA

#2895 May 18, 2010
Noob wrote:
<quoted text>
What I've noticed in my branch is to RBO an account with insurance products instead of a deferment to skip a payment. If said customer has no insurance, than we defer. I also don't think it's ethical to charge a $250 closing fee, and finance it into a 60 month loan at 25% interest so the fee is now $450. I also feel it's unethical to approve a loan and than try to sell a Home & Auto plan that is totally irrelevant and finance a $600 premium into the loan which will become $1050 over a 60 month term at 25% interest. I feel Citifinancial exploits people because people with poor credit are not typically knowledgeable about loans. No company should ever lend 15k at 20% interest unsecured. This seems to border on predetory lending.
You sure you aren't a customer? Complaining about rate etc. I am consistently fielding complaints from customers about their rate or how much didn't go to principal etc. these very customers acted like we were their best friends when they were getting their check. Hardly asked any questions during closing & 12 mos into the loan all of sudden we are "rip offs"?? We didn't twist their arm to get the money. Citi gives those with non perfect credit a chance where other companies may turn their nose up at them.. if we turned them down, then it's discrimination if we approve them then we're predatory lending?? when WHEN when are people going to start taking responsiblity for their own decisions and stop looking to blame someone because now they have blown the money and are stuck paying for what they borrowed. And that 'closing fee'..well it pays my salary-money loaned isn't free it's no surprise its being charged we disclose it. If we can't even support what we sell..what is left?
happy to have a job

Morrow, GA

#2896 May 18, 2010
Reply wrote:
<quoted text>
I would have to agree with you. I would leave if I was you because I'm feeling the same way right about now. This company is inconsiderate and don't value their employees the way I see it.
You think we are bad? You should visit the American General forum..lol they sound as bad as we do.. hang in there!:o)
adljfaljdflajdlk jal

Macon, GA

#2897 May 18, 2010
Wondering wrote:
I have heard that ther is an abundant amount of PIPS and RODS being given out. Anyone know if that has something to do with the layoffs? Is the branches that are geting RODS & PIPS going to be on the closure list? Just seems odd. Quite a few branches are getting PIPED and RODED (everyone in the branch).
You are damn skippy! They are going to do whatever they have to in order to keep from paying severance pay!!
adljfaljdflajdlk jal

Macon, GA

#2898 May 18, 2010
Yes too wrote:
I agree - many branches will close - how many, that I do not know. But just ask any DM why they have to complete all of their DMRs by month end? The answer is clear - announcement of branch closures, consolidations and layoffs on June 1 We knew this was coming; tightened score card, controlled lending, incentives driven by DLQ mainly, a big push for auto pay and asset sales. Best of luck to all with this month incentive in the CM roll it only makes sense given the eventual announcement in June.
Yea, go ahead and ask the dumbass DMs. They know and they don't care. The DMs and for sure the ADs need to go. Especially the one in Georgia that came from Florida. I hope he gets what is coming to him and that he loses everything!!
Seriously

United States

#2899 May 18, 2010
adljfaljdflajdlkjal wrote:
<quoted text>
Yea, go ahead and ask the dumbass DMs. They know and they don't care. The DMs and for sure the ADs need to go. Especially the one in Georgia that came from Florida. I hope he gets what is coming to him and that he loses everything!!
Wow with such a disrespectful attitude I'm shocked you even have a job!!
Whatever

United States

#2900 May 19, 2010
adljfaljdflajdlkjal wrote:
<quoted text>
Yea, go ahead and ask the dumbass DMs. They know and they don't care. The DMs and for sure the ADs need to go. Especially the one in Georgia that came from Florida. I hope he gets what is coming to him and that he loses everything!!
get a life, why are you still around?
lots of luck

AOL

#2901 May 19, 2010
Managers are preventing sales targets from being met, when they hold approval, and turn down because of no car, autopay or insurance and customer qualified for unsecured. Trying to force. Unemployment will find that interesting.
Whatever

United States

#2902 May 19, 2010
lots of luck wrote:
Managers are preventing sales targets from being met, when they hold approval, and turn down because of no car, autopay or insurance and customer qualified for unsecured. Trying to force. Unemployment will find that interesting.
get another job if you don't like the environment.
midwesterner

New York, NY

#2903 May 19, 2010
Does anyone know if they are going to offer severance packages and how do they determine their offer? I'm worried about losing my health insurance. ALSO.....
To those of you who obviously have a very bad taste in your mouth about your current situations, management, etc.....
The ethics line IS confidential, and reports WILL be investigated. If you are in an office that is participating in unethical activity or activities that are against policy its your responsibility to report it. If you have fear of retaliation or do not have confidence in your upper management simply call the ethics hotline. If you dont report the activities when shit does hit the fan you will be held responsible. If you DO report it, and you are honest the company will take that into consideration.... i know this all from first hand experience. This is a good company to work for but there are some bad seeds out there. TAKE ACTION and STOP COMPLAINING! Either that or pray you are on the list to be cut june 1.....?? Good Luck!
Thats wrong

United States

#2904 May 19, 2010
Take it from someone who knows calling ethics will do nothing more then get you wriote up. It's not confidential!
Rusty Shackleford

New York, NY

#2905 May 19, 2010
Yes wrote:
US Branches only at least for June 1st but as the company further positions itself for a buyout I'm sure there will be additional closings. I want to say I hope everyone keeps their job though we know this isn't a reality. It brings me no joy to report what little I know but I feel someone should say something. The cuts will be at almost all positions.
Nothing against you Yes but I call BS. This has been on here a million times. Closings May 1st, closing June 1st... blah blah blah. I need an accurate source or its just another guy trying to start a rumor... sorry.... just the facts
Hello

United States

#2906 May 19, 2010
Rusty google it
midwesterner

New York, NY

#2907 May 19, 2010
they cant write you up for calling the ethics line

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