anyone has more information on this?
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I don't think that the number of direct reports matter. If that is the case, logically there wont be any individual contributors left!
If you have less than 3 people reporting to you after the first round of layoffs, you will be next. This is regardless of C13, C14, C15 or C16.
Everyone is stress out, but it is very unfair to think that everyone above 8 levels should stay and other should be let go. What about our sons and daughter who would have recently started. Can you see them come home crying ? Sometimes, situation creates crazy ideas, but we have to think fairly. Almighty is equitable and gives what everyone deserves. We all should accept His decision and maintain our dignity.
they should keep all the ones with 8" and above and terminate the rest
These comments are excellent explanationing the organization strategy.
Makes sense.
While the concept and aim are true, there will always be exceptions in the interim. In some cases, there may be co heads and more than 8 directs as the strategy to separate the domains has not been finalized. They need to go through intermediate stages to achieve 8x8.
Don't know if this is true.. in Services at least EMT-1 (most of them) has more than 8 reports at this time, which is EMT-2 and these are the ones on the new org chart shared with us, tells us they are the ones retained and here to stay. Are you saying 8*8 is from EMT-2 and downwards?
The 8x8 is very common across the banking industry. BAC went to that many years ago
@1ntp+1pJusPMn and @1miy+1pJusPMn Makes sense. Did you hear about this from someone in the group or is there an article? Reason I am asking is - we are in the middle of this since two + months and there have been million rumors - some ended up being real, others not so much - so just curious about the source of the information. Not trying to challenge you in any way. Thanks
- Anxious and Stressed man
What I know is that Citi is trying to limit the direct reports at any level to less than 8. Which means one MD can have 8 direct reports. It may be a combination of MDs and Ds. Then each of them can have 8 direct reports. So on until 8 total levels. So today if you look in employee hierarchy, it is from L1 to L18 I guess. Now it won’t be more than L8. In other words, if you take an employee in global directly and count the number of employees in his direct lineage to CEO, the at most the CEO will be 8th highest in the lineage counting from the bottom most, whether it is an AVP or officer or non officer.
Example: At each level there can be max 8 employees.
MD-MD-MD-MD-D-D-SVP-VP stop
MD-MD-D-D-SVP-SVP-VP-AVP stop
So today in the new structure, in the O&T co CIO organization there are 15 MDs. Expect further optimization. My guess is only one will survive with 8 direct reports and the other has to fit elsewhere eventually. We can talk on and on .. but I guess you got it about levels.
This is what I've heard and keep hearing that by the end of this C will be 8x8 so 8 down but also 8 across. My D has 8 total....SVPs, VPs, and AVPs so the SVPs will essentially lose their mgmt title and everyone will just report into the D.
some are all for themselves, just check out who they hired and how they position themselves to take the credit. its all about themselves and getting their md title..
they throw you aside afterwards.
f them
No - Can you explain what you are referring to? Thanks
It will take time but the idea is to have 8 or less direct reports at each level and to a maximum hierarchy of 8.
If we take the CEO as top level and multiply 8 by seven times, I get 2, 097,152. Since we have only 240,000 employees, Citi should be able to achieve 8x8 without layoffs. I may be sounding like weird at this point :-)
Happy Thanksgiving 🎉🎉
A fine example of what you get when you have an ex management consultant running the organisation - no real strategy, vision or direction so let me ask the managment consultants what I should do