Many of the cuts at other banks have been at all levels, including analysts of all years... I wouldn't panic but would be pretty shocked if analysts are fully protected - even being cheap for the bank's scale, they still cost a fair bit of money. The zombie MDs that go first in layoffs are mostly gone so they are just trimming headcount at all levels for 2024
Analyst at Citi informed two rounds of cuts, one upcoming and another in Nov/Dec, I don't remember exactly when s/he said but it was towards the end of the year.
But high return offer rates from what I've seen so likely new class replacing who they're cutting?
How would they know this? Just surprising an analyst would be informed of the structure of layoffs and timing when that is not widely known information they are dispersing at Citi.
The Analyst said 2 rounds of cuts around that timeline, but things might have changed. But I remember definitely they said 2 rounds this year - although this was back in Aug I was told this
No, it is firmwide with no detail announced but it is certainly not just IB. If you are interviewing with Citi you'd be wise to read the recent media reports, or listen to the presentation from today on their website where they talk about it.
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Brutal
Analysts expected? Including second years?
Many of the cuts at other banks have been at all levels, including analysts of all years... I wouldn't panic but would be pretty shocked if analysts are fully protected - even being cheap for the bank's scale, they still cost a fair bit of money. The zombie MDs that go first in layoffs are mostly gone so they are just trimming headcount at all levels for 2024
Analyst at Citi informed two rounds of cuts, one upcoming and another in Nov/Dec, I don't remember exactly when s/he said but it was towards the end of the year.
But high return offer rates from what I've seen so likely new class replacing who they're cutting?
any news as to who will get cut? analysts?
How would they know this? Just surprising an analyst would be informed of the structure of layoffs and timing when that is not widely known information they are dispersing at Citi.
They're literally sending emails to the entire bank telling exactly how many people at each level they're going to axe.
Where did you hear about imminent cuts? I read something at the end of November, and more by January 2024
The Analyst said 2 rounds of cuts around that timeline, but things might have changed. But I remember definitely they said 2 rounds this year - although this was back in Aug I was told this
This is for IB only? I’m in the process for an ER seat…
No, it is firmwide with no detail announced but it is certainly not just IB. If you are interviewing with Citi you'd be wise to read the recent media reports, or listen to the presentation from today on their website where they talk about it.
Do you think incoming grads should be worried about their offers being rescinded?
No
No, or course not. CS didn't even rescind offers after they collapsed, so Citi most definitely won't be for just some restructuring
Consequatur sint maxime omnis et. Consequuntur libero in dolore. Sit enim sed nihil cumque ut.
Aliquid ut adipisci autem fugiat deleniti. Voluptate velit dolores commodi quia. Odio tenetur quidem laboriosam reprehenderit repudiandae veniam ea repudiandae. Autem qui ut voluptate. Provident beatae consequatur pariatur laborum.
Consequatur velit ut porro voluptas non necessitatibus numquam. Tempora voluptas et totam sint sint. Quis dolor provident in officia modi blanditiis. Et nobis quas quis aut amet et. Eos est labore incidunt velit voluptates. Est voluptatem occaecati labore quidem.
Incidunt eum qui debitis eveniet quod molestiae dignissimos qui. Dolor iure et dolore aut magnam. Nisi nostrum ipsa dolorum sequi ipsam. Illum rem quidem necessitatibus et dolores.
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