Final Citi layoffs this week which line up to what was mentioned prior (by end of Q1)
Post anything you hear below
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I’m hearing Sponsors, C&R, TMT, Industrials
these are IB and CB. unsure about cap markets
Also heard C&R and TMT. Not sure of scale, but seems smaller than those impacted in September ‘23.
Heard Houston got hit and Clean Energy in San Francisco too
Things must be really bad if they’re cutting CB. CB is typically more stable
Any updates on groups? Are juniors also likely to be laid off?
Haven’t heard of any analysts yet. But believe cuts will happen throughout the week, so potentially
I have heard some associates, VPs, and MDs so far.
Was this today?
Heard not enough people left after getting poor bonuses. Guess they didn’t get the hint
Heard the same thing
Have heard of MDs being cut - anyone know which groups MDs are getting cut from?
IB TMT has an MD laid off
NY or LDN?
bump
Are these layoffs in part of Citi's new CEO doing a complete gut restructuring of the company?
She’s not new, but yet. this was the final planned cut as part of the restructuring. they did mostly upper levels in the fall and then did mixed now
So there wont be any further cuts this year?
Why would they let their upper levels go? Were they non-revenue?
Any news on London/EMEA?
Saw 20 across IB, CM, CB. So not that many.
Any colour on the teams affected in IB and at what level
Brown analysts
Bump - heard of layoffs in the NJ office
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