by Lapuamies
I can confirm Citibank is cutting people. I have a close friend down here in Tampa, FL who works mid-level at Citibank and was just recently transferred over to a brand “newly-created” position. Not sure where he falls in the pecking order, but judging off his home and comfortable lifestyle, I’d guess his salary is roughly 100-120K per yr….for what it’s worth.
He referred to the change as a “lateral move” and he starts his new job right after Thanksgiving.
Anyways, when I asked him specifically what some of his new “responsibilities” are, he flat out told me that his new job is to figure out ways to minimize processes and eliminate people.
If Citibank is doing this, one could safely bet other large banks are doing the exact same thing.