Thread regarding Citigroup Inc. / Citibank / Citi layoffs

TL;DR: Go woke, go broke.

@1flz+1pBbdX8y you are incorrect. There are many articles out there laying out the vast increase in headcount since Jane took over in conjunction with the downward spiraling dropping stock price.

It seems that all that hiring she did to reflect her political views made no difference. For two years, all those emails and TH meetings which mainly touted figures of the ESG, diversity, inclusion and equality was great but it did nothing to boost the balance sheet.

Its almost as if no one outside of Citi cared. Again, to innovate and ‘win’, you need to:
a.) provide a service or product that is UNIQUE that your competition does not have
OR
b.) provide a service or product that is BETTER than your competition.

If you don’t do at least one of these things then don’t expect the doors to burst open with people willing to give you their money. Pushing for ESG endeavors alone does not cut it. Hiring in mass to show you’re ticking a box that you’ve hired all spans of cultures and ways of life, does nothing to raise the stock price…you have to have something else.

The "bloat" did not come from Jane. It came from 9 years of Mike trying to create a tech focused bank which failed. Stop being s-xist.

Indeed they should.

The only thing Citi leadership cares is stock price. Citi doesn’t care about its customers or its employees. Citi took millions in Federal Covid money and tax cuts to hire workers. Now many will be fired for no reason. The government should ask for their money back.