Thread regarding Citigroup Inc. / Citibank / Citi layoffs

There’s nothing positive that place caused me two mini strokes from stress along with retaliation, verbal abuse etc.

You do realize this is a BS post right? Too many errors. Lol. The company should welcome feedback period. Be grown ups and listen to both good and bad feedback. Ignoring the same issues over and over is what the company seems to do best.

MDs brought their ex-colleagues and hired at higher rank and some of them don’t qualify to be managers, this approach discourages talented employees and demotivates them

First of all “No”, Citi does not value positive criticism and often tries to sell that they do in order to weed out what they consider the naysayers to put them “on a list”.
That being said….

The past 1 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.” - -which is true post.

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.

DEI (diversity, equality and inclusion) is great but its not a huge selling point. The populous won’t flock to Citi based on just that alone. Constantly touting it as a win year after year, does not a constant solid revenue make. Have we learned that you need to provide something else to the public? You have to provide a unique or better service or product than your competitors. If you don’t, then don’t expect customer to give you their money instead of giving it to some other company.

Stop cronyism at MD level. There is no real restructure happening at MD level. They are protecting their friends and just moving boxes around in the name of reorganization.

Hiring rules that apply to lower teams must apply to MDs also. MDs are made managers of groups without the role getting posted and going through the interview process. They just have to align themselves with the right senior manager.

Focus more on growing the business and less on D E I tick box exercises. Hire and promote competent people.

Quality control of who you are hiring - hire some competent people. They will self-manage themselves and inspire others.
I am leaving because I can not believe who I am working with. I felt the manager deliberately d-mbing down the workforce so he could be the cleverest in the room.

There are a number of toxic senior individuals that have a t-t for tat mindset. They think that because when they were moving up and dealing with toxic people, that everyone below them has to as well.

This kind of mindset needs removed and held to account. Just because you dealt with toxic micromanagers doesn't mean you need to become one.

Be the SVP/Director/MD that you wished you had and you will see better results.

Above all plus some inefficient Directors and SVPs

this sums it all up:

https://www.ft.com/video/db2e862f-b0d3-4840-a51f-8160aa4982b2

Thank you, for the first time I am seeing a positivity! Too many duplicated work. And implementing new technologies takes a longer time to get approval from the architecture team. Citi is far behind the latest technologies. Too slow to implement anything here. Lots of application managers knows nothing about technology, I am very sorry to say that here. Mostly they trust contractors than employees, employees are being sabotaged and growth is too slow. I can write more later about it.