Citi Layoffs?
Heard Citi is doing layoffs accords IBD next week, anyone have any details on the size and scope of the cuts?
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Bump
Heard there will cuts across the board. Does anyone have details?
Who did you hear this from? What’s your source?
Haven't heard anything yet from my team. Where did you hear this from?
Irresponsible to post this just based on rumors. Cite a source or GTFO.
Heard the same thing from Sr Banker
Heard it as well from the analyst that works with that Sr Banker
Haven’t heard anything either
Confirmed - They’ve already started to do layoffs in specific groups
Confirmed via bloomberg
Source?
https://www.bloomberg.com/news/articles/2022-11-08/citigroup-cuts-dozen…
BARC also cutting. ~3% of global headcount is stated figure
Cousins works as a associate at Citi in cap markets group, juniors for layed off last week
End of the day, layoffs nowhere near tech/FAANG
Wouldn't affect incoming interns would it?
Serious? Return offers are obviously going to be down because FT headcount is already down
FT return was already atrocious in 2022... It was 40% for Capital Markets... Lower than that?
No they won't cut incoming intern / SA offers. Horrible press, you guys don't start/ get paid for a long time, and Citi is not like going underwater or anything they are just slimming down like everyone else.
FT offers might be down like this year but who knows what the market will look like, no use speculating this far out
Oh ok, thats reassuring!
What groups were hit?
Tech fired 2 directors i think
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