So many valuable employees have been let go. It seems like each round of layoffs has shielded the less competent ones, for whatever reason. It's getting more frustrating to see the competent ones being pushed out while the ones who aren't contributing much get to stick around.
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It’s actually frustrating to see how ethics and integrity are SO low and incompetent leadership gets away with it. One cannot question the unethical aspects if they do - they are considered trouble makers. Like someone said, Citi does not want to hear the truth and does not want to be saved.
Both survivors of the axe and the Laidoff can actually use Citi's incompetence, dysfunction, cronyism and nepotism to their advantage. Everyday, Citi is that much closer to its demise. The Grim Reaper is motioning for Citi to come home to him. LOL! Let Citi sh00t itself in the foot. There are Both current employees and the Laidoff will have massive Schadenfreude and ROTLMFAO forever at Citi's comeuppance. Thank you, Citi for keeping your incompetent, dysfunctional, cronies, nepotism hires and Braindead DvmbA$$ES while Firing the employees who have the skills, knowledge and work experience to save Citi. Apparently, Citi does Not want or deserve to be saved. LOL!
Post ID: @9apq+1rEGCOk8 You're correct. An outsider in Risk got the axe Sept. 2023. He was only in CIti for 2 years from JPMC. He smartly timed his hire at GS to start in December 2023 after his 90 day WARN money was paid out and he was still collecting severance. So in other words, he was collecting 2 paychecks simultaneously when he started at GS, and this basically means he had the new job offer in hand by October or November. Yes, he is that good, capable and intelligent that he was able to snag a new job so fast after Citi Fvcked him over and landed at GS of all places. Citi's loss and GS' gain. ROTFLMFAO! To those Citi employees who were Not lucky enough to get the boot, you need to plan your Exit Strategy NOW and Abandon the Citi Ship Titanic. I personally have one foot out the door. LOL! by Anonymous Post ID: @9kpo+1rEGCOk8
I'm in Risk "Management". Other posters have witnessed and opined the same: most of the survivors and that's probably about 80% of those who survived the Axeman this time around, in Risk Management are the ones who are the favourites, legacy within the genesis group, cronies or nepotism hires. Birds of a feather flock together. Old thinking and old worn out, dysfunctional methods remain at Citi. Employees who got the axe were mostly outsiders from real banks like GS, JPMC, etc. OR challenged the accepted convention with new ideas, methods and solutions. These are some of the reasons why Citi will NEVER Change just like Katy Perry's song, Hot and Cold. Citi is an OLD DOG THAT IS BOTH UNABLE AND UNWILLING TO LEARN NEW TRICKS. Being able and being willing are 2 different events and behaviours. These behaviours, beliefs and bad practices WILL lead to Citi's demise whether in whole or pieces by being sold off to other financial institutions, not necessarily banks. by AnonymousPost ID: @9apq+1rEGCOk8
@plb+1rMYhe3K, yes, Citi is filled with mediocre politicians with sub-par skills. However, there have been many MDs and Ds laid off that have been with the bank over a decade. The worst offenders are in service/HR/Operations/Tech/Compliance. People are responsible for one little thing that accounts for 30-min of work a week and nodding heads on zoom calls. Where's the value?
The legacy employees that have been around for 2 - 3 decades are still there. This is why Citi will never improve.
It’s ok. I got let go and tempted to think like that but there could be reasons for management to take these decisions. Also a good lesson to learn is no one is indispensable.