Thread regarding Citigroup Inc. / Citibank / Citi layoffs

The truth... 350 new MDs and almost 0 sub-D promotions

Average employee lost bargaining power years ago - just accept it. Corporations nowadays are heavily skewed towards serving the interests of the top management and shareholders. Current system is run like a mafia enterprise - and we all know how these systems end.

The only way out of this is organizing unions - sounds absurd, but there is no way out of this mess unless employees combine power - see what is happening to Boeing / GM / etc. Finance industry would like to have you believe that wild capitalism is the best because it actually serves the top peoples' interests - it used to work for the average finance Joe too until probably 20y ago when governments started printing money like there is no tomorrow.

The next would be supporting wealth tax - so that people like Jane can pay their fair share of undeserved income back - because her 20-30-40mil comp is not directly related to her performance, but rather to money printing by the governments.

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| 1401 views | | 8 replies (last December 9, 2024) | Reply
Post ID: @OP+1vRURwXM

8 replies (most recent on top)

https://www.businesspost.ie/news/growing-number-of-workers-at-citigroup-turn-to-union-as-redundancy-fears-rise/#:~:text=Growing%20number%20of%20Citi%20bank%20staff%20turn,%20Donal%20MacNamee.%20%20March%2018%2C%202023

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Post ID: @2mbi+1vRURwXM

Let's do it. We need 30% of the employees to vote affirmatively. I don't that'd be difficult.

https://betterbanks.org/organize/questions#:~:text=A.%20The%20Committee%20for%20Better%20Banks%20(CBB),a%20more%20equitable%20and%20community%2Dfocused%20banking%20system

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Post ID: @2byq+1vRURwXM

Post ID: @OP+1vRURwXM OP: This is why Finance employees need to Unionize. The Deck will always be stacked in favor of the Employers, but with a Union, it's a little less stacked. At least in the Auto, Manufacturing, Plumbing, Telecommunications, Education and other industries, they have some bargaining power.
In NYC, why do you think it's so difficult if Not impossible to Fire Teachers, even Teachers who have been convicted of Child Abuse, As$@ult, R@pe, theft of School District money, etc.??? They have a Union ! It takes years or Never to finally Fire them and kick them out!

Most end up in Rubber Rooms which is like Detention, where they continue to collect their Salaries and all they do all day is sit, read, look at their phones, and sleep until their suspension or punishment is deemed over. Then the Bad "Teachers" are returned to the Classrooms to cause and inflict more harm in an endless cycle of NYC's "Educational" System FUBAR-ness.

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Post ID: @1gtp+1vRURwXM

Adding more layers at an MD level has been the problem all along. They scramble to get things done as they understand it but it’s always the wrong thing to do. They are a bunch of m0rons acting like mafia bosses intimidating everyone in their paths. The worst part is they’ve been promoted by their friends without having any real evidence of their ability to run an organization while insane Jane looks the other way. Citi is sinking more and more every day while management bark orders to help its demise. Sad to see employees work harder than ever to try to keep the pace to save the sinking ship. As for insane Jane, I hope that b10tch sinks right along with it. She deserves every bit of misery coming her way.

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Post ID: @1scr+1vRURwXM

The issue at Citi is the same corrupt leaders are still in charge. As someone mentioned earlier, they operate like organized criminal organization and Citi is okay with it.

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Post ID: @1fra+1vRURwXM

Anyone in aml get promoted

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Post ID: @1kep+1vRURwXM

OP here - to add some explanations as obviously some people do not get it - printing of money, mass import of cheap / desperate / not that qualified labour and shift in focus towards shareholders / asset owners led to the current situation - this is why people at the top are trying to convince you that immigration is good - it is good, for them :D Keeping 100-200+ people applying for the average job keeps our wages low enough for them to pretend GDP is growing while productivity is sinking.

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Post ID: @xoc+1vRURwXM

Yes agree. Finance employees MUST Not just should, form a Union just like in the AUTO, Telecommunications, Education and other industries.

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Post ID: @oqv+1vRURwXM

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