Citi has no intention of becoming a better bank. They are cutting younger people and/or those with less years of service in order to save on severance while keeping the dinosaurs who have no innovation no degrees and no experience other than the same old tired experience and outdated systems Citi has always had. Jane isn’t fixing anything or making Citi better. They are cutting the people who can actually bring change in favor of keeping the same old garbage that put Citi in the place its in. Its only a matter of time before the another large US based bank such as Chase, Bank of America, Goldman or Morgan Stanley take over Citi. The way Citi is handling the re-org is just helping destroy the bank further.
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The mentality of “bringing in the new and managing out the old” pertains more to management than the regular employees. You have the old guard in play with old guard thinking. We need leaders who can think outside the box, innovate, and that are true visionaries who can think beyond just DEI and ESG as the only thing to do. We need leaders who can think beyond that.
To be competitive you have to either:
a.) provide a service or product that your competitors don’t have
and\or
b.) provide a service of product BETTER than your competitors
The scenario below NEVER happens.
A business is failing, so the owner hangs a sign out in the front that says “We are DEI and ESG friendly”. From that point people come in and say “You know, I wasn’t going to come in but I saw your sign so here…here’s 40 bucks, just take my money because of your sign.”
The employees have proven that they will follow where ever you lead them, straight into he-l if needed. The problem is, is that they are starving FOR leadership. Something more than “more of the same”, something more than only DEI\ESG. They are practically begging you for true leadership. This “more of the same. Oh that’s not working, ok, lets lay people off and continue with more of the same.” is not working.
I think you forget what makes a good team is a mix of people from different generations. These make the best teams mixing new ideas with experience.
@riv+1qxWIewt I am not the excuse maker. I am here to simplify the system unless like the other moaners and haters in this forum. The system is complex and need to form a new team for architecture change while the existing teams still be on place to run the bank. We need new thinkers to create a new application using generative AI or new AI technologies. That’s where the actual change begins, not just lift and shift the existing decades old codes to new system in which lots of written in Java 1.5 version with deprecated methods in it.
That’s why we need to eliminate contractors and bring new extreme talents to rewrite the system. Again keep in mind technologies keep changing every two years. Whenever the changes adopted the system needs to be written in a way to plug in play to any programming or any platforms.
We still need the old people to run the bank until this adoption happens.
I know that the state of affairs were created by people, who, like you, make excuses and add complexity, instead of understanding, simplifying, and executing.
Your post sounds like excuse making. Are you one of those who can help Citi, or continue contributing to it's issues?
Post ID: @oxc+1qxWIewt Do you know how many systems we connect externally outside of Citi? Go figure first. Cloud adoption happening very slowly here. Because of architecture approvals. Many of the Citis applications are running still on Vendors can’t even upgrade to the new technology. Citi solely depends on many vendor products. So the technology they used also have to align with the vendor technology. We have to rewrite entire Citi’s system to move out of existing old applications, that’s not easy as we have more than 5000 CSI’s. Don’t think Citi is a new born FAANG(MAANG) that do fancy technologies, Citi is 211 years old. And it is complex.
The systems are complex because the creators of them were too ignorant to make them simple. Seems you need to work on your reasoning, since you demonstrated a lack of ability to reason from first principles (ergo, the creator of the systems we're ignorant [the first principle] , and therefore the systems are complex)
Citi started a program called TLP and TEP and started bringing new grads from some of the reputed universities. These people had very good communication skills and commanding ( in the sense, some of them really had arrogant nature, attitudes are bad with programmers at Citi)In the TEP program whoever gets in they were not good for coding, they eat up our time. Already the projects here are fast paced, we had deliverables plus these people are pain in the butt. Have to mentor them, and sit with them to debug their code what they delivered and broke the existing functionality . But these new hires have extra “privileges “ from the top executives since they are in TEP or TLP programs. They quickly raise up in the ladder. Then think about how our Citi fell very quickly. These things needed to be reevaluated to see how to improve the hiring standards. We don’t want fluent English speakers have command over communication. We need actual executors they can be good in logical reasoning, code analysis. As Citi’s system is very complicated. I have worked in various other giant organizations, what my observations about our Citi system, here is the applications are very complex. To deliver and meet the client expectation’s the programmers needs to be smart to understand the complex systems here. That’s why we need the talented old people here that will help us understand and guide us the systems. Again @OP your top universities not going to help or your resume, we need actual intelligent people. Intelligent won’t automatically pour out from top university or your degree, that is individual ability. Some people are not from top schools are universities here at Citi, but they are real good in analytics and coding.
Like many iconic companies Citi died in 2008 and has been a zombie ever since
Good people at Citi. what gets in the way is greed and those who want to step on everyone else. thats the problem.
The Orange MAGGOT is 78. The Pot calling the Kettle Black. LOL !
Yes just like the Dinosaur Biden running our country, god help us.
@nbf+1qxWIewt I know a few went to go get a master in advance analytic and don’t even know basic concept of database even worst can’t even write a simple query.
I’m sure somebody’s feelings are hurt. Time for snowflake safe space mode to kick in. Group hugs everybody…group hugs…come on bring it on in…bring it on in……
Plus to my previous comment, some of them had gpa was more than 3.8. Sorry new people to point out my frustration here. You think old people are not good. But I feel new people are not very competent.
Hate to say that, I worked with young graduates from US top universities. That too they had masters in computer science in very reputed universities in Dallas area. Time and time they proved the colleges here are dysfunctional, some of the new hires can’t even do coding and forget about coding they can’t debug and analyze the existing codes. We have to mentor them still they constantly make mistakes over and over again. It’s easy to work with people who have degrees from other countries. They have deep understanding on coding.
Post ID: @ammq+1qnJRhmB Just because you're younger or young does NOT mean that you or your generation can fix Destitute and Dysfunctional Citi. What you posted is age discrimination. There's institutional knowledge and institutional memory that only the "dinosaurs" as you called them have that can help and fix Citi. Also, Not all of Citi's "dinosaurs" have No university degree. Actually, most of them have at least a Bachelors Degree. Again, your comments and sentiments are discriminatory.
just now by Anonymous | 1 reaction (+1/-0) Post ID: @apxg+1qnJRhmB
Wow you sound a bit bitter.
You sound like a panicked new hire making this post in hopes of saving your own skin.
Entitled much?