Citi's Top management has big issue understanding root cause of the failure. They are not open for any discussions where the issue is. they only want to discuss where they can prove some fake numbers and get bonus. Mark Mason is saying laying off 1600 people will cover expenses; well I don't see some MDs who should not be there at all is still working and showing off they are working. Citi is losing their knowledgeable employees.
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It's like some people are there one day (SVPs for example) and then vanish. Then a few days later some manager or their direct report(s) say they "left" the company. I have worked with some of these people and they have been there for 20+ years. They wouldn't just leave one day and say fudged all this stuff. Why isn't Citi more transparent? Why don't they let the people tell others that they are leaving? It's a mad scramble afterward as some of the direct managers find out last minute too. Is there something else going on with consent order or regulatory issue? Citi is still hiring in a lot of the IT depts. Doesn't add up to me.
Not that it really has anything to do with this thread but I was at citi 32 years and jus got laid off January. saved enough money never to have to work again so when my manager wanted to zoom call on the day everybody else was getting their raise and bonus numbers, I knew what was coming. I had a big smile on my face on the call told her thank you and asked her if she really thought I was going to be upset. Funny thing is for the last 31 years or so I only got ones in twos but this last year I got threes. At that point I didn’t care anymore. Otherwise I would’ve had something to say about getting threes after I left. My manager kept asking others how I was doing and everyone told her I was fine I am almost 100% sure she wanted me to be upset but I took power away from her as I didn’t give a cr-p. I really wish that zoom call was taped.
The actual number is many folds as Citi laid off thousands of non-employee category. they were working full time for years, but attached to IT companies.