Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Honestly a lot of them were basically just collecting a check. As much as the DEI crowd folks get blamed for a lot of the problems and yes I see issues with a lot of them, but at the end of the day most of them are at the bottom of the totem pole. There was also a huge group of 20-30 year tenure employees approaching retirement who honestly aren't doing much but collecting very big paychecks. Some can go without a whole year and nobody would even notice or see any impact. A lot hidden in those big management layers, you don't even hear about them for like the whole year, they just do their quick meetings and off their day doing nothing they go.

I honestly agree with this management layer trimming.

Streamlining is great conception but something is missing.
At my team many things were automated but when you start using it you will see automation failing at 50% rate. So you need more people to support such bad quality products. And they do not want to hire anybody - just sending emails asking if somebody can help with python/perl/ksh programming at spare time without impact to primary responsibilities. So as result all automation playbooks are unpredictable. Sometimes they works, sometimes fails, many times fails and return success status. Everything has to be verified manually and take more time comparing to original vendor provided procedure. And management want to head only success stories - nobody allowed to escalate problems.

So base for streamlining is missing now. And no sign anybody want to fix it.
I am sorry to say but current technology management will fail bank. There is no future in this company.

Another thread says people with 2-3 years tenure are being let go. I think there is no rhyme or pattern to the pink slips.

What institutional knowledge? Total BS - people in finance / banking have ZERO transferable skills. ZERO! Apart form the inherent drive / ambition.

Started at Citi at the turn of the millennium and I recall pretty much everything I saw and read. They can pay me $500 an hour to fill them in on all the tech deployed. :-)

What I find perplexing is this…..
Run off the older tenured people to get rid of the old timey thinking…..
Well there’s Jane and the directors under her…..they are tenured with decades of decision making behind them.

Its not the 20 year veteran button pusher you’re letting go that makes the decisions on where the company is going or how to get there. It’s the upper echelon. IF you are sticking to this unwritten guideline of running off the older people, start from the top, that’s where the stagnation is.

its a way to force the. to rebuild with their own way.