The Big C apologizes if anyone was under the impression it’d be paying out bonuses and severance. Happy holidays and stay in touch.

People at Citigroup, who spoke on the condition of anonymity, say the cutbacks have begun and word is that they will continue through the end of the year so the firm can avoid the bonus payments. “Some people got fired yesterday,” said one person at the firm. “It’s a pretty crummy Christmas present; you would think they would give out at least a portion of the bonus, but they say they’re not.”

Holiday Jeer: Big Banks Planning More Layoffs [FBN]

11 comments (hidden to protect delicate sensibilities)
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Comments (11)

  1. Posted by guesto | December 5, 2012 at 5:29 PM

    Oh no, all the Tiffanys, Hermes, Ferragamo, Gucci and Porsche dealers in Long Island City will be really hurt by this.

  2. Posted by Titibank | December 5, 2012 at 5:41 PM

    Right before X-mas. Rough.

  3. Posted by Guest | December 5, 2012 at 6:11 PM

    F Citi

  4. Posted by Financial Samurai | December 5, 2012 at 8:52 PM

    Don't think so. People are negotiating pretty nice severance packages.

  5. Posted by Serious bro | December 5, 2012 at 9:35 PM

    "you would think they would give out at least a portion of the bonus"

    Wonder why they fired this retard

  6. Posted by fitting in | December 5, 2012 at 10:49 PM

    do kill yourself

  7. Posted by All that talent | December 5, 2012 at 11:42 PM

    I am sure those job creators will find…no…create those jobs.

    Hear there are a flurry of book deals coming down the pike this Xmas.

  8. Posted by Guest | December 6, 2012 at 8:46 AM

    What kind of idiot are you? Citi didn't tell employees "you're fired! but hey, we like you so much we're going to let you negotiate a severence."

  9. Posted by Smallest violin | December 6, 2012 at 12:10 PM

    Over last couple years, distinctly remember guys mocking others that were being laid off.

    Karma is a…well you know.

  10. Posted by Guest | December 6, 2012 at 2:04 PM

    Please go the fuck away

  11. Posted by bankster | December 6, 2012 at 6:02 PM

    first boston (pre CS days) tried this in the mid 90s. i think they lost a class action suit brought by those fired late in year without getting any bonus.