Thread regarding Citigroup Inc. / Citibank / Citi layoffs

By design

People are moaning and groaning about management being blind yada yada…..
It’s not like they are blind, its more like its by design and do not care.

Yes there’s been a paradigm shift to where there’s micromanaging, sporadic shifts in decisions, what was important is thrown by the wayside and what was not important is now the most critical thing ever, do more with less in record time while we bump up the deadline to be sooner etc…

Its all designed to confuse, frustrate, cause anxiety and run people off.
The reason has already been mentioned time and time again.
Its all to run people off. Tenured, new, top performers, low performers, etc… it does not matter where you fit, that’s not the point. The point is to trim the numbers even lower by “attrition” without having to pay the severance. THIS is the goal. Citi is in such a bad shape that they can’t afford pay the severance, so run them off via other means.

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| 881 views | | 5 replies (last May 31, 2024) | Reply
Post ID: @OP+1sMxhmH6

5 replies (most recent on top)

BCG did same for HSBC starting 2011

https://www.bcg.com/publications/2017/transformation-value-creation-strategy-hsbc-simplifying-organization

https://finance.yahoo.com/quote/HSBC/

nowadays Citi deploys a strategy that last time did not worked

Rates would not last forever , this is a free cash for citi and any bank

Once rates will go down, festival and easy money will go away

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Post ID: @1fyw+1sMxhmH6

Well frankly for a big bank like Citi that decline is pretty minor. Even 2023 September has seen more decline than that. What is more surprising is even billion loss fat finger error news didn't move the stock much.

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Post ID: @1ros+1sMxhmH6

@1crb+1sMxhmH6 - where have you been? The stock has been in a steady decline for the past 10 days. The bump the stock got with layoff announcement, like any ploy to bump a stock is short lived. Lay people off and expenses go down profits go up, people buy stock. Announce a new fine and people dump stock , stock goes down. And the bump from layoffs wasn't earth shattering. Less than 30 points. Meanwhile JPM is trading about 130 points higher.

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Post ID: @1vfx+1sMxhmH6

With all these details already known why stock price not going down?

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Post ID: @1crb+1sMxhmH6

Yes true

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Post ID: @1ssg+1sMxhmH6

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