https://nypost.com/2024/01/18/business/citigroup-ceo-jane-fraser-begins-plan-to-ax-20000-jobs-after-dismal-q4-sources/
Some managers were told their positions would no longer exist as of Feb. 1, two of the four sources said. More details about the layoffs and severance payments will be announced next week, they added.
Citigroup declined to comment.
I can think of two people at Citi that I hope and pray fall under this layoff. It would be the best form of Karma in the entire universe.
Post ID: @svp+1qE3tIUS Thanks, Citi HR or Executive "Management" for always gallantly defending Citi on every thread ! Extreme sarcasm. ROTFLMFAO! As others have posted, this Website is a Complaint Website about all things Citi that's why it's called www.thelayoff.com . It's Not a defend and rationalise Citi Cheeleaders Website or ILoveCiti Website. If Citi can Not take its Nerves getting struck, then get out of this Website! Ignorance is Bliss. Citi should do what it does with the VOE results it has Shareholders/Svckers pay for every year......ignore the results, do Not Change FOR Employees and watch Citi's best Employees Quit Citi and go work for Citi's competitors! ROTFLMFAO!
Yes I recall, and honestly it makes sense, twas a good move. Do you have any other points?
It's the only thing she knows. It worked for her once and she may believe this will save her head now.
"In June 2009 she was named CEO of Citi Private Bank. At the time of her promotion, the bank ran an annual deficit of approximately $250 million; it returned to the black during her four-year tenure. Among the changes she implemented was a decrease in the ratio of private bankers to clients, with a target of one banker for every 30 clients, and the removal of commissions and sales formulas for bankers in favor of a year-end discretionary bonus"
Does the above sound familiar?
Ah but you admit you do it some of the time... please stop that!
@mhn+1qE3tIUS Because your strange writing style is visible. Unless you are copying someone else?
Of course I'm a Citi employee and of course I go on every post but I don't comment obscure unstable messaging everytime.
Whats that? Jane didn't make every decision to get the bank to where it is today. She inherited a bunch of legacy items. mark this words, she will be like Gorman of MS and change the bank around by the end of her term!
Post ID: @svp+1qE3tIUS Look in the mirror. Do you need help? LOL !
Post ID: @svp+1qE3tIUS Are you a Citi Employee ? It appears you're on every thread. How would you know or arrive at a strange conclusion unless you're on every thread ? Nerves were struck LOL!
I don’t know what it takes to run a multi billion $ business, but then again I’m not being paid 23 million per year TO know either.
You don’t know how she does it, well she does it rather poorly in my opinion. To be competitive you have to have a product or service that no one else has OR you have to provide a product or service better than your competition. Having DEI as you main focal point does not generate revenue.
Her job is not easy I do not know how she does it
Now Jane has to take drastic steps to show the board that she can salvage the business.etc…
All Jane has done is bolster the DEI hirings and promotions thinking that it’d bring in revenue. Well it didn’t and the stock plummeted quite a bit compared to our competitors.
Now Jane has to take drastic steps to show the board that she can savage the business.
Shen will graciously retire with the achievements of being the first female CEO, pushing DEI up everybody’s ar-e and executing the biggest transformation in the past 20 years. The next person will have to do the heavy lifting to make the bank more profitable again and fix the damage she has done. Meanwhile those she gave to the axe to because she had no vision to bring in revenue, will still be trying to get their life on track.
@ckr+1qE3tIUS Are you a Citi employee? Your posts on every thread are concerning and unstable. Do you need help?
What does selling businesses mean?
so true