Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Citigroup probed by feds over ties to sanctioned Russian billionaire. Investigated by the IRS, DOJ and the FBI

https://nypost.com/2024/11/14/business/citigroup-probed-over-ties-to-russian-billionaire-suleiman-kerimov-report/

I remember when we just couldn’t wait to open up more locations in Russia. Seems like that was not a good decision at all. You guys know if we get fined over this one, it’ll be just another cost the Citi employees will have to absorb. Not Jane or a few levels down, nope, the lower level employees will have to absorb. The employees just can’t catch a break from the bad decisions being made. I hope the board is happy with their decisions to just keep slamming down big payouts to the CEO.

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| 862 views | | 6 replies (last December 6, 2024) | Reply
Post ID: @OP+1vAw8avV

6 replies (most recent on top)

The upcoming layoff\releveling storm’s true focus is saving the CEO.
The board gave her a mandate to turn things around to make up for the loss of revenue such as regulatory fines, Revlon, etc… and now this. Losing too many people or losing the top talent is irrelevant. Its all about saving Jane.

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Post ID: @gkke+1vAw8avV

No surprise here: Bad karma always comes back to bite. Citi has put its employees through tremendous stress and mistreatment, in the most sadist way. What goes around comes around.

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Post ID: @4ihk+1vAw8avV

The employee combination sigh and eye roll.

So, naturally in true Citi fashion, there will be more extra extra mandated training to all the employees over sanctions who are NOT decision makers or have anything to do with sanctions. They will have secretaries, janitors, tech people, number crunchers all platforms, all roles that have absolutely nothing to do with handling, seeing, transitioning or any type of hands on with either money or contracts, yes, by all means really really drill down on the sanction training for those guys. Gotta make the claim of “we have everyone in the company trained on it” . This will be the focus with pats on the back of a job well done, instead of focusing on the root of the problem.

Now for those who actually DO have access, transition, move the money and\or contracts, those guys, the stake holders on internal sanction regulations….meh….shrug shoulders.

THIS is the type of thinking that makes each employee roll their eyes and have doubts to the leadership decisions that are made. Then later in a town hall we all will be challenged with “using your time wisely” “come up with ways cut out the unneeded churn”. Gee I wonder what should be up for consideration. Man, I just don’t know. Surely its not to alleviate the unneeded mandated training that has absolutely nothing to do with my role much less access to things that I never ever see or run across.

Yes, I work at a bank, and I walk inside of banks, and have money in my wallet that I get from a bank. I also watch TV, does that mean I should take a mandated acting class? I drive across a bridge, do I need to be well versed in bridge construction?

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Post ID: @1iid+1vAw8avV

FBI involved - Kerimov cannot be the only sanctioned oligarch who will be uncovered.

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Post ID: @1zvw+1vAw8avV

Not to worry, Jane will be just fine, that’s the only thing that matters.

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Post ID: @gbm+1vAw8avV

Wow! Not one Regulator, but 3 Regulators are investigating Citi for violations of law. And you know each Regulator will impose separate monetary fines in the hundreds of millions of US$. Rome was Not built in one day, and Rome was Not destroyed in one day. Every pull on the Citi tapestry fabric contributes to its downfall and non-existence. ROTFLMFAO!

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Post ID: @ygs+1vAw8avV

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