Thread regarding Citigroup Inc. / Citibank / Citi layoffs

8 layers is what we were told today. Manager set up a quick connect with MD none of us were affected but C16 over us was cut. C13’ in collections and customer service are gone in Operations. We were told many more announcements through Thursday. Asked if we knew someone affected and knew of any postings to recommend. Have compassion and keep working BAU.

did they publish the new Org chart?

From O&T, 20 people layoff from Manila and 15 from Warsaw, continue to happens at Irving and Costa Rica.

@1awj+1rGJHR3d The crux of the issue. People not fit to lead others are in middle management because they crave power or superficial growth as a "manager". The majority of them unable to even manage their own lives, what irony.

My director was canned in January. She was a new "people manager." Was at Citi for 20+ years though. Couldn't get out of her own way and delegate properly. She was acting more like an IC. Then we were "moved" under another clown who is so hands off that he can't even scratch his own a-s. Our team is luckily competent enough to run without some middle management leech. Point being, we've been completely mismanaged since January. I suspect there's lots of these types of managers who just have no business doing it.

ones does layoffs/offshore to make cost savings, so quality gets lower
next will hire specialist but cost will raise again
cycle is a cycle

Many people want to be manager because they love power and many other feel (mostly correctly) that they can’t grow beyond a level in an organization if they aren’t manger.

Very few want to be manger because they like to coach/groom/mentor others - they want to be managers not just for themselves and those are the true leaders. But alas we find/know very few people like this.

Honestly why would anyone want to manage other people? Get real. People are mostly incompetent and impossible to deal with. And you have no real power. If you're a manager and get "demoted" to IC, count your blessings.

I was told by my manager that I wouldn't be assigned a management role I was promised because of the new 8 layer rule. This is almost certainly happening.

The 8 layers should not be a surprise as it has been well publicized.

Im not certain a 8 layer will work in an ops environment. You have phones employees reporting to C11s and C13s managing the 11s. I can’t imagine everyone being tied to the 14 directly. I also think the C12s who were just arbitrarily promoted should be demoted to C11s again. There is no distinction in their job roles.

Post ID: @1oxd+1rGJHR3d You're correct. SH!T rolls down-hill, Not uphill. When the head is rotten, the whole body becomes rotten. Leadership, Culture, Mission, Best Practices, Worst Practices, etc. start from the top.

We will know for sure in 4-5 days but rumor has it that Citi will have only 8 levels in reporting hierarchy with Jane being Level 1. People managers will be C14 and higher C levels, C13 and below people managers will be converted into individual contributors. Each people manager will have at least 6 directs and not more than 12 directs. Levels 8 & 7 will be mostly C13 & below and Levels 6 & above will be mostly C14s & higher.

This is how BCG is supposedly creating flatter, leaner, and agile Citi. Only time will tell where will Citi end up after this but one thing is for sure like at many companies today, Citi’s board & executives are more focused in increasing profitability by reducing employees because they see employees as cost centers not as revenue makers.

Even the largest & greatest companies in the world rot & decline from top, not from bottom. Let’s see what Jane & team achieve after all this restructuring & terminations - will Citi go back to become the top financial institution once it was?

My best wishes are with everyone at Citi from top to bottom.

Where are you seeing this?

I don't see any changes.

why not just post the names of the people who are gone? Or would that make too much sense?

Where do we check ? I’m on layer 9