This company is run by fools who don't know Business and Technology.
Letting go people will just save some money. But its not going to fix everything.
What is missing here ?
- Real Technical Architect
- Real Business Strategist
7 replies (most recent on top)
Post ID: @rya+1qBpDChc
True. I am seeing lots of redundancy and also unnecessary management layers., for instance, if you look at PMO, there is a SVP manager—> reporting to a Director—> that director reporting to another director—> that director reports to an MD. All these layers are not necessary, all of them collect some dashboards prepared by a VP or a contracting resource and submit it to the Head of the specific department executive. Also seen these SVP level managers never bothered to attend any meeting even if we schedule it various times, and he/she delegate someone to join and answer anything we need. For preparing spreadsheets and PowerPoint presentations why you need these many layers??
The hiring spree was also due to fulfilling Jane’s political agenda. The DEI push which seemed to have worked out so well. DEI all the way, they can ramp up in the years to come, meanwhile have others do at least 50% of their jobs for them.
Somehow it was believed that this whole DEI and ESG initiative was a means to draw in clients when the fact of the matter is, is that NO ONE CARES and did NOT flock to Citi because of it.
The hiring spree was partially due to regulatory pressure. Citi has a large workforce but, not necessarily enough of the expertise and skillsets needed to fix the many problems that the firm has. Citi hired many expensive people in one of the tightest labor markets in recent history. Layoffs were inevitable.
I really resent the fact that all this year Citi was still in a hiring spree and if we check their numbers in like 2021, their employee numbers was 220,000! They bloated the place in two years with 20,000 extra people and now are laying 20,000 people off.
Working at Citi now feels like being on a sinking ship with an inept captain.
There is a lot of redundancy and people that do not have any work to do. It stinks but is necessary and a positive thing for the firm going forward. Hopefully our shareholders see the results
What's the point of the endless complaints here? To let the anger out? Yes, I understand that. But it is not going to resolve anything. Have you said it with you manager? Can you voice it at meetings? townhalls? The answers are likely to be no. So please take some actions - move on and find a new job, learning a new skill, or be the change you want to see in citi. Action is always louder than words, and more effective to ease your anxiety and anger than endless ranting.
Best of luck.