The cart accountability process is being used to increase the number of 4 ratings staff and reduce their bonus and salary. Cart removes ten percent of the total compensation so if the bonus and salary increase is ten percent of the annual salary it becomes zero. The person also may be included in the redundancies for 2025. Being with 4 rating you cannot apply for any internal jobs and it also might affect you getting a job in another bank.
Cart was originally intended for serious violations maybe such as collusion in stock and currency trading. Now HR and other departments are asked to include different types of lapses into cart. If a staff is late multiple times to complete mandatory trainings they are included into the cart process. When doing the entitlement review, if the manager does not provide detailed explanations which is satisfactory to the security team the manager is added to cart. If someone uses an unofficial way maybe like texting to communicate anything company related, another person can report it and the person who did it gets added to cart. They are also checking which persons are not coming to the office three days a week. Maybe they will get added to cart.
Got this from an unverified sources. Posting it to see if others maybe can verify.
9 replies (most recent on top)
Are they all treated the same or are there grades of infractions?
Citi management and managers are well equipped for one and only one thing : How to maintain their status quo by messing up peoples’ careers. You are better off laying bricks for a living than working at Citi !
Post ID: @1jdy+1vLLgV01 Correct. My "manager" is an An@l Retentive Control Freak about RTO when my previous manager Before the reorg before I was transferred to the Backstabbing Snake psycho did Not care about who was RTO-ing as long as the work got done. I Quit for greener pastures! The joke is on her !
Post ID: @1bmx+1vLLgV01 Simplification, Transformation, Reorganization are all just Corporate 1984 Totalitarian Doublespeak euphemisms for Layoffs, Cutting Headcount, Firings. Tomaayyto Tomaahhhto it's the same Sh!t !
The whole RTW (hybrid) model is discretionary, and your manager can enforce it or not. They get a report of everyone who is not meeting the 3-day minimum, and they can either take you to task or just blow it off. There is no mandate to force a MD to jack you for not coming to the office if you are doing a great job at your home office.
So you’re told in TH meetings to “not worry about another job somewhere else, don’t chase the money” but they have no issue with you waiting around to see if you get let go or not.
Nothing surprises me at this point. Our SMTs in tech said the reorg/transformation is only about cutting headcount and hard times ate coming. The most honest stuff I've heard this year. It's not about all the bull cr-p the company is feeding the public. Simplification = cutting headcount not all the fluff of "reducing silos, simplifying processes, blah, blah".
I have more meeting, check ins, calls, emails, IMs, status reports, slide deck (on what we're doing),VERY A@@ BACKWARD! Since they didn't announce any layoffs in Nov or NEW MD promotions I guess Dec/Jan will be he!!.
I would not be surprised.
It’ll be worse than all that. They will move the needle so to speak.
“You should have been doing ‘x’ all year long.” When ‘x’ was never ever mentioned.
They will retro-actively measure you against rules that were never in play to begin with.
Imagine this, you travel down a road at 55 MPH. They change the speed limit to 50 MPH.
They then give you a ticket for each time you went over 50 MPH……IN THE PAST.
As outrageous as this may sound, you’ll see they very type thing play out at Citi. You’ll get the hecklers and naysayers about this post but fast forward 4 months, they will be singing a different tune. It’ll be initially justified with “well there must have been more going on” or “something else must have been happening also”. This is what people will tell themselves to feel more safe, when in fact its just another creative means in which to hit that magic layoff number.