People who knew what they were doing were kicked out. Those who know how to kiss the right behinds and nod their heads in affirmative to everything they are told are still here. If you were wondering why Citi was failing and becoming such a toxic workplace, there's your answer.
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You guys are correct, Citi is NOT failing because of the focus of being “woke”, no not at all.
It’s failing because its the ONLY focus that Jane has and nothing else. She’s got nothing else in her toolbox. Its not her fault, she’s old school with old school thinking. The -42% stock performance since she’s taken office speaks volumes to her leadership capabilities.
Here let me show you how flexible I am. Continue to keep the Citi CEO as non-white male, I don’t care just get someone who knows what they are doing. Why not an African American female as a CEO? Why not an Asian female? I really don’t care so long as they can lead.
Basic economics 101, you have to have a product or service that no one else has OR AT LEAST provide a better product or service than your competitor. Focusing ONLY on being woke won’t cut it, clearly.
The stock price is the primary metric for a CEO as its a reflection of the overall economic health of the company. I don’t care how woke we may or may not be, make the freaking stock go up, show some innovation, show some other plan other than more of the same Jane Fraser plan.
How much time was spent though pushing the DEI agenda instead of streamlining the organization? It has been an organizational distraction. Add up all of the hours.
Ignorance is the enemy of humankind. The whole world is being divided by social media disinformation having real chaos. Citi is no exemption. Blaming immigrants or internationals or minorities or women for Citi’s failure is exactly what those sending disinformation want. Citi’s problem is that it is a large bank run like the government. It is no longer efficient with too many lazy execs and managers. Too many layers of management and too many silos. Successful modern companies have few management layers and encourage self managing teams. Empower workers and they will self organize and deliver better results. The future is global. Embrace diversity and discard divisiveness. People are more similar than different.
This is just d-mb. Those who blame on wokeness. Those who blame others because they can't do the job themselves. Look at the directory and see for yourself on who is there.
@oau+1pWdFzFZ If you all hired people based just on diversity/color/race whatever then you all are part of the problem. It's unfair to say just because someone is diverse then they are less qualified. If the person black/white/Asian/etc and cannot do the job then it's about the PERSON not their culture/race. Smh.
@okd+1pWdFzFZ You are violating Citi’s code of conduct here, s-xism and age related stereotype.
Reading this posts make me more and more fearful of working in the office. I am a person from cultures (both Europe American and African American) and I'd rather WFH if people are looking at me like I am there because I check some boxes. I've worked hard for my years of education, certifications, and experience as I am sure many others have too (of all colors). Citi is failing because of bad management, bad decisions, silos, and apparently people thinking people of color are only there to check boxes. From all these comments, I'm not sure this is a place I am comfortable working at anymore.
Citi is not failing because of diversity. Lol. It's failing due to poor management and bad financial management. We're in an expense and mostly a hiring freeze yet the EMTs are jetting around the world visiting other sites and spending $$$.
Obviously many of you do not follow the market The CEO of Disney was published today admitting that wokeness did cost them
@wgy+1pWdFzFZ "Just a bunch of white old men and their croonies continuing to rake in money and being corrupt" - I think you yourself have issues with race and stereotyping....
@wgy+1pWdFzFZ, so you concluded that comment written by @fzf+1pWdFzFZ is by a “old white man”? If you think so it’s an utter mistake and judgmental issue from you. Take away your stereotype judgement please, focus on working to bring progress in growth of this organization instead.
Scenario: you have a store and business is bad, so you put a sign up in your store front window that says “We are ESG friendly”. From that point on people just come in and give you money for no other reason than you are ESG friendly.
This does not exist, it doesn’t work. Keep the diversity etc…and all that, but you have to have something else to offer the public. Has that been learned?
Other banks incorporate DEI as well but its not their ONLY selling point. I truly believe that Jane thought that people would just come running to Citi for that reason alone. I think she thought the social justice warriors of the world would rally to Citi as customers because of such. The reason I say that is because over the past few years, article after article, interview after interview, that sole subject is the main topic that’s Citi keeps bringing to the forefront of the discussion. An interviewer would ask another question, it’d be answered slightly and then the conversation intentionally steered back to DEI.
So, no true innovation or unique offerings to provide, fast forward and here we are. Stock right now is at a 52 week low and -40% lower since Jane stepped in as CEO.
For the past year, JPM stock up 14%
C stock down -30% (that’s a negative)
Overall the C stock is down -38% SINCE Jane took over.
You can pull this information up yourself.
As one posted said: “In order to beat the competition you need to:
a.) provide a service or product that is UNIQUE that your competition does not have
AND\
OR
b.) provide a service or product that is BETTER than your competition.
If you don’t do at least one of these things then don’t expect the doors to burst open with people willing to give you their money.”
INSTEAD of focusing on “a” or “b” above all she’s seem to do is focus on molding the company to fit her vision of diversity, equality and inclusion (DEI). I’ve seen footage of 4 public interviews with Jane, when asked a question she always maneuvered the conversation back to DEI as if she had no other plan, just that and that alone.
I’m sure Jane did the best she could but we need new fresh thinking outside the box and not more of the same. We need someone NEW from the outside Citi with new innovative thinking and NOT part of the old Citi regime with the “more of the same” thinking.
So per @fzf+1pWdFzFZ CITI's failure is all linked to the minority representation or being cognizance of inclusive language. Or having folks being felt appreciated and respected. Just a bunch of white old men and their croonies continuing to rake in money and being corrupt . Like seriously what woke practices were the reasons for the failure ? Like not having proper control . Just the usual rhetoric of folks who cant understand the changing environments.
And Disneys failure had nothing to do with wokeness. Its just a failure to be true to what Disney is all about. Entertainment. Disney could not entertain folks.
Disney is finally admitting that their Woke agenda, while great for virtue signaling and likes on social media, was not actually reflective of their customer's beliefs or values, and their stock has gone down 50% since 2021, while the rest of the market has seen an uptick.
It's just a matter of time before the rest of the Fortune 500 admit the same.....some behind closed doors, and some (like Disney) publicly.
When you point a finger three fingers point back at you. Stock price is down 95% since the Great Recession and flat over the last 10 years. You ARE the problem. Prove me wrong.
So what you are saying is women and ethnic minorities aren't as strong as overrepresented groups. That they weren't selected on skills?
How open were you to engaging and partnering with colleagues of these groups? Did try to understand differing ideas and views or did you make an assumption from day one based on their ethnicity or gender and fail to evolve and develop?
How did you as an individual measure their success? And if you are qualified to make this assessment, why aren't you in their role?
True. Recent years we are seeing at Citi, about race equality blah blah. But 8 or 10 years ago we didn’t see such nonsense differentiation and were focusing only on delivering results with no other negativity fed into the minds of employees. Ever since Citi brought “woke” propaganda into the workplace, the progress went far low. Keep this woke’ism out of workplace and bringing the positive changes in technology, eliminate unnecessary layers of management, eliminate consent orders like Chase did, focus on secure the applications, remove unprofessional, talentless vendors like (TCS) who wants to keep the knowledge and work within themselves, that does bloody politics and does not allow employees growth opportunities.
Totally agree. Too many useless under experienced people hired and promoted into roles not because they are capable, but because they tick a box for the Woke Police. They struggle to do the job and keep other staff back constantly having to be shown. They hide their inability by joining all the internal Woke Citi Groups, of which there are far too many, and spend their day attending Woke Meetings all of which they use to justify their existence in their end of year review.
You are not wrong.