Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Some teams in ICRM and Risk were explicitly targeted in the layoffs and cuts in such a way that they’re teetering now. Take for example the Sanctions staff losing two key MDs as Citi racks up questions on its management of sanctions risk, or overhauling its Cyber Risk and Compliance teams on the fly with JPM rejects leading most of it as significant cyber regs need to be implemented. Or combining Fair Lending and Data Privacy into one team, which nobody on the street has ever attempted for good reason. Only a fool would look at those three programs and go “yep, cuts need to be deep there and let’s combine”

Citi claims to be hiring top talent, in high level positions, in over managed areas. Lame Jane can’t seem to understand the top talent is needed for positions where work is actually being done. There is no depth to her vision and thinks her new ‘top talent’ will fix everything when in reality it’s creating even more problems. These m0r0ns have no clue what is going on. No doubt she’ll get her millions for a failed execution from the most corrupt and incompetent so called leader.
When are employees going to stand up, push back, and take matters to the board. This is a publicly traded company and stockholders need to know what is happening before Lame Jane cuts the company in pieces to sell off to the highest bidder. Take action now before it’s too late!

Citi managers are among the most incompetent in the banking industry. Why does Citi need 7 layers of managers to do what 3 layers could do well. Fire managers and hire more workers. Create empowered self managed teams.

Citi can also hire better developers overseas for half the cost and i noticed that is what they are doing. More teams are becoming oversea workers and less USA developers

@wxp+1v1tcekQ - the reason Citi MDs are not paying attention to skilled professionals is MDs are not skilled either :-)
It’s an overrated rank. Some Risk MDs don’t have basic skills like what is single sign-on, why Citi wants to adopt Agile, no soft skills, I can go on and on

Citi is the cheapest company I have ever worked for by far. Cost of living goes up 5%, Citi gives you a 1% raise and tries to convince you that you should be grateful. Turns around and gives the CEO a multi million $ jump several years in a row.

Is it any wonder as to why people leave for a better offer, you know…..LIKE ME!!!!!

Citi’s MDs are not paying attention to the mess that their lower level managers are causing. Some C14s act like little tyrants kissing up to their bosses while mistreating their workers below. Citi has become a horrible place to work.

As someone who has worked at a top risk shop before, the quality of people at Citi's Risk departments is the problem - not sure whether it is the pay, or just the hiring managers - but Citi is hiring low-quality people in Risk. That is it. I just hope that is not the case in Front Office...

Payless to skill workes, keep them as proxy and get all credit and money as a manaaager.

They laid off good people, selectively chosen by management, THEN
brought in a ‘skills-assessment’ which was mandatory for employees to assess themselves against specific criteria,
but management was NOT REQUIRED to assess the employees,
then management selectively chose more good people to layoff…for performance criteria’ which did not match the required skill set in the skills assessment…

And all of that is even not considering legal obligations when laying people off…

Any wonder people view this bank with scepticism…

Post ID: @pxc+1v1tcekQ It's Not just perpetual layoffs because every bank does perpetual, mini layoffs here and there every year or every few years. It's the fact that Citi pays Dog Sh!t Peanuts (both in salary and bonus) and there's NO career future in Citi compared to its envied Competitors. It's really scary (just in time for Halloween) when even Wells Fargo bank is beating Citi's AS$ after all of WF's criminal and regulatory problems, monetary fines in the hundreds of millions US$ and the Regulators imposing limits on WF's growth. This is like Quasimodo winning a beauty contest and beating Citi.

When asking copilot which of the big banks are considered the most successful it list JPM at the top followed by BOA and WF. Gee…

I think anyone who has ever visited this forum could see this clearly long ago. The writing was on the wall long ago, they just lie about the motive. The layoffs are to boost stock increase so she can give herself a hefty bonus. RTO is to stave off commercial real estate crash and pander to local and federal governments. The Jane train is truly for Jane only, because there is no way any of the changes she has made are meant to benefit the company or it's employees. Jane has almost single-handedly run this place into the chop shop. Maybe that was her plan all along. Must be some legal loophole that the board hasn't already let her go. I think that alone would see a stock boost. It's not just internal awareness on how messed up all of this is, the whole world knows.

Becuase what skilled worker wants to goto a company where every year they could potentially be laid off.