Citigroup warned some employees about fraud and unethical behavior and said it is considering tighter scrutiny on work done by contractors to ensure the company is billed accurately, according to a memo seen by Reuters on Friday.
https://money.usnews.com/investing/news/articles/2024-09-27/citi-warns-some-employees-about-misconduct-by-staff-contractors-memo-says
Citi must scrutinize all vendor hired employees and managers. It should do a background check again on contractor turned employees for their education as well as nepotism background (having contractors / employees from same company) under them.
Many hiring managers take under the table pay from these contractor firms and give them priority to work on projects. Unethical situation in most teams at Citi. The culture is passed on to their directs. Monkey see monkey do.
Post ID: @3npt+1uKgzf7R Wrong. Front Office is a revenue generating area, which means it is Not a Back-office.
There’s also the train station. It seems to be empty as if there’s no one wanting to get on it. Imagine that.
There’s Front Office, Middle Office, Operations, Technology. Operations is usually called Back Office.
Post ID: @2lwj+1uKgzf7R Unless you're in a client facing job meaning Sales and/or Marketing, every department is Back-office. I work in a second line department. We have a lot of contractors-temps.
Do I work at a different company? But maybe this is more prevalent in back office? Don’t mean that despairingly
But I see a lot of posts here about vendors, contractors, etc.
@2cls+1uKgzf7R, not all Indians are. Some are in survival mode. Some are really skilled. I agree there are some cheating happening. But Citi is not validating or verifying the hires like other companies.
If you have guts, you can prove your manager is favoriting his vendor company . You can take his Job History from LinkedIn and the reportees / vendor consultants and form a HR case. You just need one or two coworkers to validate your case.
At Citi contractors rule… employees don’t have any power. In other organizations employees are treated respected than contractors.
Indians are the biggest scammers! Citi is finally waking up..
@2qfx+1uKgzf7R- that is not correct so stop here.
I saw few American MDs(Non-Indians) bringing their own guys as contractors to do development work, so don’t you think they are getting some monetary benefit here ?
If non-Indians are so sincere then why New York City Mayor Eric Adams is been charged with corruption ?
Honesty, integrity is to do with your upbringing and it does not belong to one nation, race etc.,
Let's be honest and say it as it is - the problem is the low-quality Indian contracts who infiltrated Citi. Why beating around the bush - Indian culture favours nepotism, brown-nosing and corruption.
Citi HR is freaking out about now.
What do you mean by Sinking Ship ? Are they going to close a bank that easily ? are you a fool ? This place is occupied by useless mo--ns playing cheap politics. The only way is to cut down the vendor contractors and stop/constraint vendor contractor hiring for a while.
Please note this is not external contractor but vendor based contractor hiring (TCS, Wipro, LTI, Capgemini, IRIS) which is causing all the mess.
Citi is a sinking ship because the captain and officers are too busy partying and doing PR stunts. The worker morale is gone. Nobody smiles and workers live in fear. Bad place to work.
Main funny part is Contractors rule FTE they dont even care about FTE comments, because they know thier MD/D boss will protect them from the mess what they did. This is the only place i saw contractors are say what FTE should do, even they dont have basic knowledge.
My manager was hired from a contractor/vendor. He favors the same vendor by hiring their own employees under him. He always favorites them than Citi employees. I also heard he gets some payments offline from the vendor company.
The manager was from CapGemini company in India. Direct Citi employees are struggling because of these leadership.
If a person has employment history same as vendor company he hires, he should be let go.
Overbilling and foot-dragging on projects by Contractors has been happening for decades. Citi just barely awoke now and realized this?? It's NO wonder Citi is destitute and dysfunctional. Fieldglass reports will show that there are Conflicts of Interests including but NOT limited to when Contractors who were converted To FTE play favouritism and Hire their former Contractors-Co-Workers for Contract projects or FTE jobs. There's duplicate billing, delays and foot-dragging on projects from TCS, Wipro, and LTI, Tata, etc.. Additional conflicts of interests: when the Contractors work too fast projects will end sooner rather than later, and so will the gravy train Money. There are disincentives to do a good job or work efficiently and faster. Better to create problems, throw in wrenches and then tell Citi the wrenches need to be fixed so that they can prolong the Money-gravy Train. LOL!
this is interesting. somethings bout to drop. you don't come out of the blue with this unless there's something discovered.
Some MD/D/SVP/HR have their share per candidate they recruit it’s open secret
Better get busy running Fieldglass reports for all business units! I am 99% sure you will find duplicate billing. Maybe hire managers who are not in with all the companies like TCS, Wipro, and LTI, and they will pay attention to the milestones requirement.