Layoffs are considered a failure of management but you pay the price.

Its either bad direction that failed and\or improper forecasting. JF though plays by different rules. According to her…..
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“We are not graded on effort. We are judged on our results,” she wrote, adding she expects “the last vestiges of old, bad habits” to disappear as the bank pursues a leaner, more commercially aggressive culture in 2026. The language marks one of her sharpest internal messages since she took over in 2021, underscoring a shift from transformation planning to execution.
Fraser told Citi’s roughly 200,000‑plus employees “the bar is raised” and stressed performance will be judged on outcomes rather than intentions or long hours.
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So if management comes up with a direction that does not work, you get no reward of putting it long hours trying to make it successful. She though, gets rewarded with stellar bonus’s and raises for getting us to this point but again, its you that pay the price.
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https://www.aol.com/articles/citigroup-ceo-jane-fraser-warns-181918792.html

https://www.msn.com/en-us/money/news/citigroups-jane-fraser-signals-more-jobs-cuts-this-year-report/ar-AA1UdTVT?ocid=BingNewsVerp

#Layoff #Layoffs #Management

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@c5 agree but we're not able to get justice on our rating..

Only unions can effectively fight layoffs, through the power of collective bargaining. But we laborers in banking have allowed ourselves to be convinced and flattered that we have fancy white collar jobs.

@a9

Treason.

Capitalism, correct.
The failure lay with Jane, correct.
Employees get no salary\bonus increase, correct.
Jane will get a huge salary\bonus increase, correct.
Citi is behind in comparison to the other big banks under Jane’s watch, correct.

Just move on, literally move on. Move on to some other company. Some other company may or may not be the same but one thing is for sure, if you stay at Citi you are guaranteed more of the same.

These layoffs are not just layoffs they are shifting more of the company to lower cost NON-USA locations. The current mgmt would prefer if they had no US based employees other than themselves.

Capitalism.

'Friedman observed workers building a canal using shovels instead of modern heavy machinery. He asked an official why powerful equipment wasn't being used.

The Official's Response: The host explained that using machines would reduce the number of jobs available for local laborers; the project was intended as a "jobs program".

Friedman's Reply: Friedman is said to have responded: "Oh, I thought you were trying to build a canal. If it's jobs you want, then you should give these workers spoons, not shovels!"'

thats how capitalism works sadly!

Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Layoffs are considered a failure of management but you pay the price.

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