https://www.msn.com/en-us/money/news/the-clock-is-ticking-on-jane-fraser-s-citigroup-turnaround/ar-BB1oP6mz?ocid=BingNewsVerp
14 replies (most recent on top)
https://www.thelayoff.com/t/1tc6ls8C
Post ID: @eif+1tc79JJB Either the U.S. Taxpayers give Citi another Bailout Package like they did in the 2008 Recession, or Citi gets sold to other Financial Institutions in whole or pieces. At this point, Citi is another Zombie bank, the Living Dead, like HSBC and Wells Fargo, a shadow of what it once was.
So there's no way out of this dirty sh-t created by this reorg?
@pwg+1tc79JJB
Its not meant to help, This article is meant to benefit a different target audience, not the employees. More of the stakeholders and investors. The employee is the pawn of this process. Whatever happens, Citi wont fail, its too big to fail. Its better to just find ways to survive until you or anyone else in a terrible situation can make a plan to get out.
How would that help us who are suffering,want to work and used to be best performer but being scapegoat of this nonsense reorg?
I do think Citibank is too big to fall, No matter how grim all these may look, Citibank not going anywhere. There will be external parties to save it.
@qpv+1tc79JJB
At her age, she is not looking to get hired by anyone else. She was re-hired by Citi to do this mess. Just like any other incompetent CEO it’s an orchestrated effort to get a huge payout. She sold herself.
@ehe+1tc79JJB
I don't think this would be the best move for the CEO. If she starts this, sure she will get the payout in the end, but no one will hire her again as a CEO if Citi were to fall or be bought out.
I am pretty sure she is trying to work out the best solution she can, but the years of neglect Citi has done in the past is something really hard to come out of. I think anyone would have this challenge. Im not vouching for her, but I do see a challenge to reverse years of dis function
The article states that many people are aware of this layoff page. Enough to get a few lines in the wall street journal.
I get that she wants to steer Citi in the direction of success, but there needs to be a internal review of most of the existing processes. There is a lot of corruption and this needs to be fixed before trying to move forward. Reason for not passing regulation requirements steams from corrupt processes that exists internally. There needs to be a review and it will take time to change. If it involves an entire team that is corrupt, they will need to be removed and replace them with another team/process in order to carry out the responsibility. Jane is right that she is years away from her goal, but she does not have years, rather she has weeks or months even. Regulators already marked Citi heavily and will not back down until they resolve their issues. I don't see the solution other than making drastic efforts or not being able to do business in those sectors regulators dont want Citi to participate in.
Will this anyway change my (or should say our) bad worth for nothing credit stealing only delegating immediate manager? Which this reorg nonsense gave? If not how does this news affect? At any day citi is not going to close ? Unless there's a serious review happening on this reorg drama i dont see anything useful
Lame Jane is letting the clock run out. She’ll blame Citi’s state she inherited. Too big of a problem to fix in a short period of time. She’ll blame the regulators and their strict requirements although they’ve been known for years. The reorganization is a ploy to distract. The sooner the better for her to collect millions.
By when will it be decided that if J reach the goal or not?
It is ticking, but the article spins Citi in a good light and able to achieve their goals soon. I don't really believe that, but time will tell.