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It's very possible that the Disgruntled, resentful and Fvcked Over Employees have a role in why Citi is still lagging behind its peers and Not achieving its goals. The remaining lower-salaried Minions-Employees who see that Citi is promoting even more Undeserving MDs than last year thereby "Saving" more money because Citi is destitute, by increasing their Salaries and Bonus percentages which is based on Salary, will retaliate or have already been retaliating by sabotaging work and projects as detailed below:
Competitors and other financial institutions generally do Not demote or "Re-level" employees because the Employer will be Sh00ting itself in the foot for several reasons.
Demoting aka Re-leveling is allowing Trojan Horses to remain inside who can do damage to the company. Demotions sow the seeds for Employees ending up with lower morale because of the lower salaries, lower job titles, lower Bonuses, being forced to relocate etc., which leads to Anger, resentment, doing the bare minimum work, working at a slower pace, Not working at all etc..
While inside the company, Employees can literally surreptitiously damage, sabotage or throw wrenches and problems into projects and work, including other employees' work. What can they lose by doing so ? They're already being managed out, FVCKED Over and encouraged to quit voluntarily.
These are some of the reasons why most Employers just cut-off the Employees instead of demoting them. They just cut off the umbilical cord. by Anonymous Post ID: @czx+1vP11bHF by Anonymous Post ID: @1gvk+1vPNMTot by Anonymous Post ID: @qak+1w3ue8s5
When Employers nickel and dime employees, especially the Worker Bees-Minions (below MD and Director level) for everything including but Not limited to Low or Non-existent Salary increases, bonuses,
Demotions aka RE-Leveling, Forced Lower Performance Ratings (3s and 4s) so as to NOT give higher salary increases and bonuses, No In-seat promotions, reduced benefits (medical, dental, 401k, retirement, etc.), asking employees to subsidize and contribute money to events/parties even if it's only $3 each (Truly Insulting! The Company can't afford $3 Fvcking Dollars?? $3 is Nothing to Companies, but it's pays for the Employee's lunch or commute!) , Potluck lunches (BYOL=Bring Your Own Lunch), etc.., the Employers (CITI) ARE FINANCIALLY and OPERATIONALLY UNSTABLE and PENURIOUS !
These machinations happened at Gruntal, Bear Stearns, Lehman Brothers, Wachovia, BNY Mellon, etc.. With the exception of BNY Mellon which is on life-support, guess where the other financial institutions are today ??? 6 Feet Under and Non-existent !
People, read the writing on the wall and look at the CLUES around you. $hittybank is on life-support and Knocking on Heaven's Door ! by Anonymous Post ID: @1msu+1w6EL8zd
Everyone is wigging out over nothing. The re-leveling is Jane’s idea, so let’s not forget that she came from the McKinsey Group. Since she came from there, it means it’s a good idea by default.
I think most people are afraid that Jane herself will take a pay cut for getting us into this mess. Let me put your fears to rest, she will not be getting a pay cut, that’s where you come in at. You will be taking one so that she does not have to, so take comfort in that and just keep working hard and quit freaking out over nothing.
https://m.youtube.com/watch?v=4Cy0vYKI6_Y
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https://www.thelayoff.com/t/1vXqD3Xl
if WD is taken into consideration, it will be the biggest scam ever for many
I dont belive any measures can be taken globally... not cause citi dont takes any of them
lets think what is a global measure for each employee ?? WD ? anything else ??
I rather expect managers will point individuals
what C-level should expect some changes ?
does it mean fte will get new paper to sign ?
There are courses taught on how to run off people for manager and HR.
Such as for managers to set up meetings making it mandatory and they themselves are late or never show. Scheduling you with extra 1 on 1’s vs everyone else. Shortening deadlines at the very last minute. Increasing last minute mandatory meetings more and more often. Of course re-leveling pay.
Its all designed to make you leave as it keeps them from paying out the severance.
thats exactly what they are counting on. That you cant take it and you leave.
@dm+1jgpznzjb . Can’t wait. Get this over and done with it. Can’t carry on like this anymore.
What big news could be given that hasn’t already been prefaced with:
a.) measures will be taken to re-level, which means a reduction in pay.
b.) we are counting on attrition to lower the headcount, which means “measures will be taken to ensure the environment is unpleasant enough to run you off, but its ok because we’d avoid paying out severance”.
Next 2 weeks expect big news
So MD’s during TH’s….”we are done, its over with. If you’re at this TH, then you made it”. All the while in the back of their minds they are thinking “boy you guys are gonna be p!ssed. The bulk of you will get a reduction in pay.”
It’s by design to encourage attrition. So, follow it. Do it. Use it as motivational fuel to leave to go to one of those other banks that IS paying more.
There is one thing for sure you can most assuredly count on. Jane herself will NOT be making less. She will NOT be taking a pay cut. As a matter of fact she’s most likely to get a pay raise.
This is all so depressing. Not only are we paid less than other banks, but now even that is going to be reduced further
:(
I heard something similar on those lines as well from my manager.
Communication will likely be going out next week or so.