Thread regarding Citigroup Inc. / Citibank / Citi layoffs

I don't know about you but my MD and his buddy MDs are 100% clueless about stuff that goes on in their organizations. On them for not digging deeper until now. Who believes constant BS and everything is good when even the news shows otherwise🤪??? Then the p-o💩 hits the fan and everybody actually rushes to do something that should be BAU. 😒

Even a decrease from for example, 30% To 15% is Still Too High for the Undeserving C-Suite, MDs/Ds.

15% of a $10 Million Salary is $1.5 Million !!! Still more than what 99.9999% of $hitibank's employees got !

Andy got a 15% increase.

https://www.reuters.com/breakingviews/citi-bonuses-provide-helpful-how-not-to-guide-2025-03-20/

I love Jane. She didnt take a government loan or whatever QE is now called. She did good

Cut executives bonus
Cut back on 401k
Kept merit/bonus flat to a little lower than previous

And somehow Jane gets a 33% increase

BS

@ac+1jpp65rdx, absolutely right. Current tech leaders even don’t have basic knowledge of technology. They just live on politics not on innovation .

Jane’s own 33% raise\bonus should also be retracted. It was her bright idea to trim away the tenured staff and replace them with contractors, and you see how that turned out. By default, full time employees have more at stake, have a more vested interest in prolonged success in the company. Contractors care just enough, to hold on long enough before moving on to the next gig. Then there’s the 23 million $ fraud event caused by contractors.

Jane is in charge of this train that she’s so proud of reminding us that we need to get off if we don’t step in line. Why isn’t her salary on the line to be trimmed back vs a healthy raise? I mean, why do we have to hire consultants to tell us what’s wrong and how to fix things? All they have to do is listen to their employees but instead they put in “measures” to encourage people to give good reviews on the VOE and then tout “everything is good.”
Is management so clueless that they can’t see what’s wrong?

Then there’s “slow improvement on data-quality management.” regulatory fines. You can’t opt to implement the cheap tech or controls then “challenge your people to make it work like expensive tech or controls”. What does that even mean? Is that an insinuation to reverse engineer (wink, wink) technology and then revamp it to a Citi flavor? Wouldn’t that be against patent laws? Is that an insinuation get some one else’s copyrighted or patented process\controls\method and changing it just enough to put the Citi brand on it?

So management is goaled on “getting it done” and “saving money”. The more they save, the more they get as a bonus. So the message is “do more with less” , “take the cheaper route”, “goal your people with making it work like expensive tech” all so that they can reap a bigger pay day for themselves. Now at this very moment, they are having meetings to figure out “what possibly went wrong” when all they have to do is look into the mirror.

The most sad thing is that, they will have learned nothing. So this is a repeatable scenario.

The leadership in our tech divisions really needs a major overhaul, and here's why: technology is evolving rapidly, but many of the executives in these roles have been in place for 10 to 15 years. They're out of touch with the latest innovations and, frankly, they can't communicate effectively with the developers, testers, or even the VPs at Citi. Their knowledge is outdated, and instead of driving progress, they rely on outsourcing to get things done and play politics at the top.

It's becoming clear that a re-evaluation of leadership is essential, particularly at the MD and Director levels. Directors are supposed to be the bridge between business and technology, helping bring the latest tech to the business and aligning it with organizational needs. But many of them are more focused on maintaining the status quo rather than leading technological advancements. This shift is long overdue.

Jane’s 300 Spartans:
Last year we saw 300 MDs removed, but those positions were quickly filled with another 300 MDs and more promotions up the leadership ladder. This cycle keeps repeating, and it's not bringing the innovation we need. Meanwhile, with the rise of AI, companies are strengthening their foundations and investing in upskilling. The traditional middle management structure is fading, as we can see with companies like Nvidia, which has streamlined its management hierarchy to stay competitive. If we want to keep up, we need to rethink our approach to leadership.

They should be fired especially after spending a fortune on McKenzie etc. for senseless and unending transformation. The lady who designed sh---y Bora-Bora, was recently appointed as a board member, Citi is doomed as board seems to be toothless and there are no proper controls. Has anyone got 33% hike after meeting expectations ? Please don’t forget the penalties/fines etc.

Thats so sad. They werked hard and deserve a big bonus