https://m.youtube.com/watch?v=yfC4zOU9WUw
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The leadership has messed up so bad that the only way to salvage enough of the company to continue to pay its employees is to lay people off. Now, Jane’s goal is to sell off the bank in pieces to try and salvage what’s left without relying on a bailout.
I read an article about how out of all the banks, Citi took the most money from the last bailout and still had to solicit funds from elsewhere.
Unfortunately, the U.S. Government will most likely again, step in and give Sh!tibank a life line just like it did in 2008. If it wasn't for the U.S. Taxpayers Sh!tibank would Not exist today. Either the U.S. Government will pump money into Sh!tibank to save the CitiTitanic from sinking Or it will get sold in pieces to rival banks, similar to what happened to Credit Suisse being eaten up by UBS.
Working at Citi is a dismal experience. Despite its size, it's far from being too big to fail. The glory days of 2008 are long gone, and Citi is now lagging behind its competitors like JPM and GS. Management talks about a "New Way," but it's all talk with no real action. Employees are merely surviving by hoarding their knowledge and maintaining the status quo, with no room for growth in sight. Layoffs loom over the horizon, with Citi aiming to reduce its workforce bit by bit, albeit slowly due to the high costs of severance pay. The company is eager to exploit any opportunity to cut costs, from delaying return-to-office plans to outsourcing and downsizing teams. Internal politics run rampant, with everyone more concerned about covering their own backsides than taking risks or delivering on promises. Projects are poorly executed, with even simple tasks taking months to complete. Citi's reliance on consultants and vendors is a clear sign of its failure to improve employee satisfaction or quality standards. In short, Citi is a sinking ship with no signs of improvement in sight.
Folks have been predicting Citi will fail since 2008... this is 2024.. don't believe the Hype... However, Citi's Leadership has always been a real "Hot Mess" !
I don't think uncle Sam will allow CITI to fail. See what happened during the 2008 financial crisis.
I am so tired of seeing analyst after analyst selecting Citi out of the list of banks to laugh at. Its always the same message.
“poorly ran….bad decisions…..late comers to innovation……nothing special to offer….unclear direction……lack luster performance”.
Someone in the past posted that on CNBC how the discussion panels when it came to the finance sector never mentions Citi and if done so, it was often to laugh at us.
Weeks later there a Citi rep offering their two cents on the status of the economy. I guess it was to try to offset the heckling. The status given was a bunch of nothing. “things are happening…..stuff will take place we think”. The feedback given BY Citi was as lackluster as overall opinion OF Citi. I’ve not seen them on air since.
Thanks. The post highlights Citi's decline irrespective of big bank status. Mainly due to excessive politics and incompetence, emphasizing the need to exit the sinking ship as soon as possible.
The analyst viewpoint of Citi start around 5 min into the video
LOL.
No.