Thread regarding Citigroup Inc. / Citibank / Citi layoffs

I work with data and that’s all I’m willing to relate as far as my employment is concerned.
My outlook is rather neutral to it all. I neither see the company as evil or the best thing ever. Its like any other company and Jane is like any other CEO. Is she effective? Is the question. IMHO, no, she is not. “I’m the first woman in Citi as a CEO” is a great headliner but it only goes so far. It does nothing for the bottom line on numbers and if the thinking is that the stock price were to move because of that, is quite silly. Stock prices move in accordance to demand and the POSSIBILITY of future growth. Compared to other banks, no, the demand is not there. How do you make the demand increase? Easy, its often reflected in the direction the CEO is leading us. Is it the right direction? Will the populous see the potential value Citi has to offer as a result of Jane’s leadership? The lackluster stock price says otherwise. What about buying C stock on the dip? Wouldn’t that be attractive to investors? Well, it depends on how much faith they have in the Citi leadership, Jane. Again, the lackluster stock purchasing demand says they don’t have much faith in her. Why don’t they have much faith in Jane? Great question. What has she done and what decisions has she made to instill confidence?

I’m a techie, no idea about all the business jargon yada yada and don’t really care. All that aside, gotta agree with this post as points 1 & 2 are spot on.

Looking at it from an HR perspective….Citi is trying to make things better down the road but across the street there are better opportunities that already exists.

She has absolutely no vision for either points. Let’s do this….
Bring people into the office. Make them all wear the same shirt and have them stand in front of the Citi sign outside the office building with a smile and thumbs up gesture for a photo op for the media. THAT….is the Citi’s way of showing how successful we are, not in the rise of the stock price. Other banks chose a different option like making the stock price go up.

A CEO should foster both growth and stability and these two metrics you listed are spot on. Looking back on her reign so far, it has not been all that great at all. There is no stability and I see no growth. It seems the only solid decision is the equality drive but everything else is a random mix of decisions.
We can’t seem to get out of the endless loop of accumulating fines and there Jane…..”Doh de doh….okey dokey another fine. We should lay some people off to recoup some money to make up for it”.
Then later those very areas that are let go, make a mistake because, you know, they are putting in 16hr days as they are short staffed and are exhausted, so there’s Jane “we should outsource that area”. Then later its decided, “you know that’s too expensive, let’s bring it back in house?” All followed up with “We can’t seem to find quality staff at bargain basement salaries. I need to hire at market salary minus 50% and deny them the option to work from home 100% if they want, that’ll bring people in.”