And if the numbers are not there, then they get the sack?
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Exactly.
Incompetence, malfeasance and theft are easy to hide in Dysfunctional, feckless companies because they have toxic and dangerous corporate cultures.
It becomes a vicious cycle that feeds on itself.
Read about investigative reporter Richard Behar's report about Felix Sater and Gruntal & Co., which was acquired by Ryan Beck & Co.. Some employees including Executive "Management" went to Investec.
Birds of a feather flock together. Ugly dogs marry ugly dogs.
As Behar's investigation exposed, you will Not see Gruntal-employee caliber get hired by Goldman Sachs, Brown Brothers Harriman, etc..
https://whowhatwhy.org/politics/government-integrity/felix-sater-problematical-friend-trump-forgot/
in many cases it is still C16>C16>C15>C14 with two directs and a non employee
so much for flattening or simplifying
No. Jody has like 2
@k9 sounds like something an incompetent C15 or 16 would say
@j3 we 15/16 aren't incompetent, we simply don't care anymore. This is a cakewalk and there is always opportunity in chaos at the firm.
It makes sense that they would start cutting 15s and 16s. 10 years ago there was a pretty hard span of control rule. 15s and 16s had lots of directs. In some operational areas as much as 50 FTE or more. As they lay off 12s, 13s, and 14s what did they think would happen? Questions about your worth start popping up when you're a 15 with one or 2 FTE. RIF people, smaller teams consolidate, re-org, collapse teams and someone has to go. Rinse/repeat. Starts to get pretty cutthroat at that level with a lot of posturing and throwing each other under a bus.
I’d say the good majority of C16s and C15s are incompetent so this in theory is a good move but in typical Citi fashion they’ll find a way to sc--w it up.
@d5 If C15/16 are cutting out the load bearing c12-14, then who is doing the actual work to justify the existence of the C15/16? Just pure relationships and/or nepotism?
lol no this has never been true.
Doubt it - the amount of C15 and C16 that don’t have 10 reports is staggering. They find ways to justify the need to keep them and then cut the C12-C14 that actually do the work. It’s such a shame - Citi used to be filled with intelligent, ambitious, inspiring leaders. Now, mediocre is the norm. Jumping ship is a tempting option - I just want to get the redundancy payout.
Makes sense as the organisation is still C16 heavy and bloated
10 directs or 10 folks under their org?
If so I should have been sacked long ago. It is my understanding that they want to (will/should) drive down the C16/15/13/12/x ratios. It makes sense. Our 388 Biz is all bread, little beef (I still moo!)