This SVP attempt is to get more technical support at ground layers. A new wave for MD & D is coming based on project duplication and costing.
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There are still so many MDs who are very lucky to be able to hold on to their title, particularly those attached to Transformation. I think the least of our problems is whether an SVP should be allowed to manage people.
There is no benefit in having 5 layers of MD (sometimes 6 layers) with a total of 8 layers in the organisation and then squeeze everything together at the buttom of the organisation and make e.g. SVP to individual contributors (IC). Better cuts, restructure would have been done in the middle management, which Jane and her directs missed to do. Havent seen the brutal cuts advised by Jane in the sectors. Former regional leads havent been let go, but moved under another MD friend. In the end more layers annouced this way.
@ena+1rtFgH1J, Remember C15's and C16's are not merely managers. The can be SME's. There could be lots of politics behind them having 1 or 2 reports.
Citi is facing challenges in paying severances and may stop layoffs by the end of March and resume later. D and SVPs will be evaluated based on their delivery, and project failures may lead to termination. Politics might back-fire. Long-term employees might be tempted to moving out due to unmet severance requirements.
Remember duplicate projects are not yet removed. Consent orders are not yet finalized. Lets wait. Jane has mentioned till 2026 the process continues...
You dopes are forgetting the open headcount that will be added to those managers to satisfied minimum requirements
How much true here? Or is it assumptions? Is anyone seen New ORG chats? What is difference between SVP and IC ? Adding new layer. Haha
C15s and 16s having one or two direct reports including EAs could be an indication of having a bloated senior management
SVPs having 2-3 reports? Kind of a non issue. How about c15s and c16s having 1-2 direct reports (and one of them just being an executive assistant)?
Would someone help me understand? If the organisation is streamlining its structure, why are SVPs still managers? Yes, some of them are good but surely they can be ICs while still delivering? What happened to minimum of six people reporting to a manager? What is gonna happen to Ds and MDs not having enough people to manage?
Ridiculous that the gave some svps two or three ppl to report to them.
Yes, March 18 they will finalize the org changes and lot of people already have notices that 18 is last working day. New org charts will take in affect March 22. All the favorite SVPs are still kept as managers and other ones are made IC. They are hoping to save on severance packages at SVP level and hoping IC SVPs will quit. They let go more VP and AVPS in my department so far