They figured out it's better to make the working conditions so bad that everybody will want to quit than to constantly have to lay off people and pay them severance in the process. It's a win/win for Citi every time somebody gives in their notice. They managed to cut costs and they didn't have to pay the person to get rid of them. That's where we're at now.
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The juniors that I saw came in have lots to learn ...
Citi has very little talent and when new talent comes in, the older talent is not interested in change or learning new ways to accomplish tasks.
I dunno amiga I am hearing whispers of layoffs in my spot...
Rather than pay 30% more to retain talent, they’d rather run them off and pay a new employee 50% more. A 30% increase in that cost vs a 50% increase in that same cost. Then you factor in that ramp up phase of 3-6 months. Banking at its finest. Just another example of how Citi conducts business. Is it any wonder why our bottom line pales in comparison to our peers. Factor in how we gave away 900 million to the wrong company and also did a stellar risk assessment and put in billions into Russia. Leadership decisions at its best.