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Bonus Watch ’12: There Will Be No Parting Gifts For Laid Off Citi Employees

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]

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11 Responses to “Bonus Watch ’12: There Will Be No Parting Gifts For Laid Off Citi Employees”

  1. guesto says:

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

  2. Titibank says:

    Right before X-mas. Rough.

    • Smallest violin says:

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

      Karma is a…well you know.

  3. Guest says:

    F Citi

  4. Serious bro says:

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

    Wonder why they fired this retard

  5. All that talent says:

    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.

  6. bankster says:

    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.

  7. fitting in says:

    do kill yourself