Thread regarding Citigroup Inc. / Citibank / Citi layoffs

I smell a re-org in the works…

Usually Citi upper management when faced with not knowing what to do, often re-orgs. They know they have to do something but aren’t sure what, so a re-org buys them some time. It buys them a year in the eyes of the board.
Citi is at the cross roads now trying to recover from several obvious failures.
Revlon, Russia, law suits etc…. So the shell game so far has been don’t pay attention all that, we have ESG, we are revamping the UK office. The shell game has lost its luster.

Now its time to pull out an oldie but a goodie. The good ole re-org. Once triggered, they can prop their feet up on the desk and just sit back. Most likely this will come into play right at the beginning of the upcoming recession. Time will tell if this happens or not but we are overdue.

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Post ID: @OP+1h9Ncyyb

8 replies (most recent on top)

Citi does not want people who WANT to be at Citi.
Citi does want people who NEED to be at Citi.

Someone who wants to be at Citi to work with certain groups or certain projects can’t always be easily controlled.

Someone who needs the pay really badly is easier to be controlled as it can always be held over them. It reminds me of Lumberg at office space. “Yea, I’m going to need you to work extra extra long for nothing. Still need this job right? Well better step in line. You know there’s talk of layoff’s right? You don’t want to be on that list”. It’s much easier to squeeze more blood out of that turnup.

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Post ID: @ntcr+1h9Ncyyb

Big Reorgs definitely happening w layoffs...

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Post ID: @mrdy+1h9Ncyyb

Re-org mixed with layoffs. It’ll be a combined effort under the guise of “making tough decision due to blah…blah…blah…”

The re-org will be in phases and not all at once. As it unfolds, each area re-orged will experience layoffs here and there. Before the layoffs though they will use a tactic to make things difficult in order to have people leave on their own as its cheaper than paying a layoff package. This will start to unfold little by little this fall and be more prevalent the first of next year.

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Post ID: @fojn+1h9Ncyyb

What news? Vagueposting is annoying. If you really have news, post it.

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Post ID: @efqq+1h9Ncyyb

Oh, I’m sure someone out there is dusting off the reorg blue prints right now.
What I find nauseating is all the pats on the back of a job well done. Change things….change them back, job well done. Let me check that bullet point on my review and now its time for my million $ raise.

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Post ID: @1tqd+1h9Ncyyb

After 11 years of being at Citi there certainly is a pattern to most of the upper echelon maneuvers. Sadly enough, I have to agree, when management is not sure what to do they re-org and sell it as streamlining effort when all it is, is a shell game to buy some time.

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Post ID: @nlq+1h9Ncyyb

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