It is good that Citi tech teams are being laid off. I have never seen a top company with such a poor tech stack. I experienced problems with almost every piece of hardware/software I have ever used at Citi - laptops, dongles, WiFi, Citi authorization app, etc. Since I joined Citi I have spent approx 25pct of my time fixing IT issues with the help of the totally clueless Citi tech support.
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Its not the technology, its not the tech people, its the Citi processes, procedure and “the Citi way”. We’ve all seen it and not in just tech.
We have this product so now lets change it, force it, re-engineer it to not do ‘x’ and ‘x’ but make it do ‘y’ and ‘y’ and ‘y’.
Regulators want auditing of this and that so lets do all that times 10 ‘just in case’.
We need to have these 10 checks and balances for this one thing, so lets have 100 instead and let’s log it 50 different way, cross reference it 50 different ways and warehouse it 50 different ways, all manually by the way.
Oh, we don’t like this one product because its too expensive even though it does exactly what we want without re-engineering it. So lets go this cheaper route and force it to work the way we want.
Let’s really make things encumber some and keep dynamically changing the CMP links and options therein.
The funny thing is the constant harping from management on “Guys, I’m challenging you to think out of the box and come up with way to streamline things, but don’t deviate from the ‘Citi way ‘. They hire skilled tech people and then don’t want to listen to them when they make suggestions. “Everything you said is great Frank but we’ll need you to change it all and trim away all the stuff that’s not the Citi way”.
In 2023 over 7k were let go from Citi. In Q1, who knows. Maybe same again, maybe less. That 20k number is complete fabrication.
This is where it's all going...https://www.highereducationinquirer.org/2023/12/ai-robot-capitalists-will-destroy-human.html
No 20,000 worker layoffs coming. It is a sham to keep stock price high. In last 4 months less than 350 workers have been terminated but that number may be exaggerated as well.
Not to mention the bloatware that tech installs - my laptop restarts at least once a day. My cloud desktop is slow as f*CK. Citi tech guys are a total disgrace.