Layoffs in Q3, forced 4-ratings in Q4, more layoffs in Q1. I suppose they need to find that $25 million from somewhere.
I can't wait to read Tim's next tone-deaf family saga. Maybe it will go like this. I was eating caviar in my mansion when my daughter came to me and complained that she broke her nail. I told her to cut it off. Sometimes we need to take difficult decisions, like how I trample upon people's livelihood and careers to put food on the table... for the next 20 generations of the Ryan family. SMH! their greed and selfishness knows no bounds.
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@h3 why they say ceos tend to be sociopathic
@sg look at the market as a whole - cant give full credit to mgmt for the rise
Let's look at the status of his post?
Layoffs in Q3 ---Completed
forced 4-ratings in Q4 -- Already communicated this requirement to managers
more layoffs in Q1 -- How about 13% before March!!!! Lists already being made.
Does Tim even know how hypocritical his weekly emails are?
Ryan Yockey, Software Engineer and Career Mentor said:
2️⃣ Loyalty Won’t Pay the Bills → Companies are loyal to profits, not people. Look out for yourself first.
You can be the best employee and revenue-generator in the Companies' history. They'll Still FIRE / LAYOFF your AS$ to save a nickel or if you're Not a favorite son or daughter !
The Spade must be HR, the Legal Dept or a MD / D.
You're a favored son or daughter until you're not. Everyone is expendable, NO matter how good of a worker you think you are.
@sg+1k87prhzf What the heck are you talking about?---> "You are so bad at what you do. No wonder you got fired like a dog."
How do you even know if the person you referring to got fired? Actually, I'm @pk and not fired. Just calling a spade a spade. You must be HR. It is very when someone states honest facts people respond in a subpar manner. I must have hit a sensitive spot. 🙄😁
Everything I said in my original post IS cr-ppy. I'm not even exaggerating. @sg You're either in HR or hiding your head in the sand. LMAO
The Site Moderators must be asleep like Sh!tibank.
Shocking your Post was Not deleted like others since it's a direct attack on another Poster with profanity and name-calling.
Sh!tibank should change the lyrics to its commercial tagline To: The Sh!ti ALWAYS SLEEPS.......Sh!tibank !
@pk LOL checks stock price over last pt two year. There’s no sign of it going down. You are so bad at what you do. No wonder you got fired like a dog.
This cr-ppy bank can't even do internal finance/budgeting or tech well. The data is cr-ppy, the risk management is terrible, and upper management doesn't want to read or do anything unless in a PPT deck first.
The GenAI is awful here and basically beta though they advertise otherwise. This company is going down the drain. C-Suite folks are trying to squeeze every dollar 💵 they can before the train runs off the track.
@OP It’s horrific isn’t it. You literally sacrifice your life for this company and it means absolutely nothing. Also don’t forget the 30/70 Fit Plan. Of moving 70% of roles out of the US.
Since she became CEO its been one disaster after another, they reward her with CEO and with Ryan at the helm of Tech, who has zero loyalty to anyone, he wants to cut anyone and everyone based on the DTA which is totally flawed.
Yeah, the lowly employees get something too........Snacks from TR and AN.
Remember the Snack Meeting invite they emailed a few weeks ago ???
The Trojan Horses=Employees will be ROTFLMFAO at CitiTroy's ultimate demise.
Post ID: @ag+1k87prhzf
Is correct. It's human nature to be greedy and look out for oneself.
The USA and other countries should do what Switzerland does according to Post ID: @ag+1k87prhzf .
Since Citi's target is 180,000 employees by the end of 2026 or 2027, it's more like 30% Laidoff/Fired because Citi had about 260,000 employees in 2020 just before Citi rolled out its "Transformation" plans.
As others have posted, "Transformation" and "Restructuring" are just euphemisms for Layoffs, Firings.
Other euphemisms are Simplification, Unlocking Value, Get Rid of Bloat, Reorganization, etc..
These are all words and phrases CEO Insane Jane and other C-Suites including at other companies have stated.
Human nature will take $25 Million in exchange for taking Food 🍛 out of the mouths of 80,000 to 100,000 employees and their families!!! Not to mention housing/mortgages, medical insurance, etc..
Greedy PIGS !!!🐖🐷
@gc How low would you go to get to the top?
If you had 25 million on the table to terminate 10-20%, what would you do?
Almost everyone in their place would do the same. That is why we should do what Switzerland did - tie executive comp in with the median comp. Capitalism, like any other system, works until it doesn't - the reality sometimes we need legislation to control the basic human urges like greed. Interestingly enough, we might see some big banks needing bailouts (private credit) in the next 24 months - and judging from experience, Citi might be one of the first ones :D