Einstein: We can't solve today's problems with the mentality that created them.
Bill Gates: “It's fine to celebrate success but it is more important to heed the lessons of failure."
Steve Jobs: “Being the richest man in the cemetery doesn’t matter to me. Going to bed at night saying we’ve done something wonderful… that’s what matters to me.”
Warren Buffet: “"Reputation is everything."
Jane Fraser: “If you don’t like it, get off of the train”
Post ID: @4lar+1s0noAkq Yeah, just get off the CitiTrainWreck !
True leadership
Jane never fails to inspire, leading by example. I guess if I don’t like it I can just ‘get off of the train’.
Post ID: @2mky+1s0noAkq The Cure (band): "Jumping someone else's Train"
I do believe that Jane’s inspirational “get off of the train” speech will circulate for quite a while.
CEO Wall Street nicknames: Mack the Kn!fe (Morgan Stanley, John Mack), Cheapskate Sandy (Citigroup, Sandy Weill), Chainsaw Al (Sunbeam Corp. Al Dunlap), Insane Jane (Citigroup, Jane Fraser), Jane Boraxe (Citigroup, Jane Fraser).
Einstein: We can't solve today's problems with the mentality that created them.
Post ID: @1spf+1s0noAkq Unfortunately, according to the efinancialcareers article most of the 80,000 Laidoff employees are below Director level or junior staff. Citi is keeping the same BrainDead Antiquated Dinosaurs that created Citi's problems. What's equally worse, is that the higher level Birdbrains have the higher salaries that are the Gas Guzzlers. Citi is SO FUBAR, Citi does Not realize this and keeps making the same mistakes over and over and over and over again ad infinitum. It's so obvious Citi is looking to sell itself to another financial institution, not necessarily another bank.
"We can't solve problems by using the same kind of thinking we used when we created them." =Albert Einstein
Post ID: @hkn+1s0noAkq This just in: CEO Jane Fraser bets on the number of Sheep Ba--s she can eat.....And she wins ! She ate 80,000 Sheep Ba--s, the same number of Employees she Axed between 2023 and 2026! Ever see the Chevy Chase move, Funny Farm when Chevy didn't realize he ate 30 Sheep Test!cles ??? Before he was told what he ate and then vomited wildly clear across the room, he was exclaiming the whole time how delicious the "food" was! He even said No one else seems to know how good the diner's food is. ROTFLMFAO!
https://www.efinancialcareers.com/news/citi-s-7-000-laid-off-staff-were-paid-an-average-of-214k-each
This part of the article is very worrisome:
Citi CEO Jane Fraser said today that the cuts were "the most consequential set of changes" Citi has made, and that they've enabled both her and Mason to run the bank like "operators" instead of people running a holding company. "It's much easier to get things done," she added.
Cutting juniors is perhaps inevitable given the pyramidal structure of banking hierarchies and the fact that Citi wants to remove 20,000 people by 2026. However, the cuts are equally a reminder that even when a bank is explicitly trimming its 'management hierarchy', it's more junior staff who are often most affected.
Citi also said today that it spent $258m on "repositioning costs" as it cut the 7,000 people, implying that severance payments were more than $37k each.
Citi's layoffs aren't over. The bank wants to cut 20,000 people in total, and so has 13,000 still to go, of which 5,000 are expected to come from business divestments and the remainder are expected to come from technology and support teams.
This doesn't mean there won't be more cuts in the investment bank. Some teams are likely to be safe, though. Citi said today that prime services revenues are thriving. It's also focusing on technology, healthcare and industrials sector teams in investment banking, which it says now account for a combined 50%+ of its banking revenues.
Yes, Jane’s motivational techniques and speech does give me goose bumps of enthusiasm. Leading by example and all that, it just so happens mainly what not to do as a leader.
“ A man (or woman) who lies to himself, and believes his own lies, becomes unable to recognize truth, either in himself or in anyone else.”
LOL !!! These quotes including the ones from the OP should be put in Slido! LOL!
“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.” ― Albert Einstein
here’s a quote that is rarely voiced at Citi: “The emperor wears no clothes”