Thread regarding Citigroup Inc. / Citibank / Citi layoffs

@yx

Citi has Never been about meritocracy.

Citi is about favouritism, cronyism, nepotism and politics. Citi has fiefdoms and cabals.

What you described I've witnessed at Citi too many times to count.

Some were only in their Rank-Level for only ONE YEAR!

VP to SVP to Director

SVP to Director to MD

Again, unless you're in the Citi Cabal, Fiefdoms and/or CitiMaf!a you're in a De@d End in a De@d End Company with a De@d End Salary!

When I started 5 years ago a VP moved to SVP and then to Director. It’s about who you know. They also were out twice during that time for maternity leave. Talk about favoritism there.

@tk True

5% In-seat promotion salary increase < 10% Internal Transfer New Citi Job Salary Increase < 25%+ (or more than 25%) EXTERNAL NEW Hire Salary Increase

Only a Broke A$S Poor Financially Struggling Company, Citi, pulls these Nickle and Diming shenanigans.

@tk

Similarly, along the same lines of Citi's Fvcked Up "logic", Citi does NOT want to incentive or encourage employees, especially Rated 1s/2s exemplary employees to stay with Citi.

Rated 1s/2s employees are the first to Quit because they have options, because they have skills, knowledge and work experience that the low calibre and mediocre employees do NOT have.

Citi is sh00ting itself in the foot. It's the low calibre and mediocre employees who will stay at Citi, Not the employees who can actually help Citi get out of its perpetual Sh!tHole of Dysfunction, Consent Orders, chaos, Incompetent employees, etc..

Lather, Rinse, Repeat on the Citi FUBAR Merri-Go-Round. 🎠🎪

Increases in Stock price are a temporary ephemeral bandage for Citi's Rotting Fatal Diseases, plural.

@de in seat promotion increases are much less than a promo via posting which is less than what you’d get as a new hire.

Few years ago one of the MDs in HR had a company wide call to explain compensation. Someone as why are new hires paid significantly more than existing same level employees? The response: “We have to incentivize them to come here. You can talk to your leadership about your comp”. It was crazy.

@qt

This happens everyday in Risk DART, but most likely systemic throughout Citi.

I see this pattern everywhere across Citi. Plenty of people who want to be seen (well yes, you need to be seen to be promoted!) but when it comes to actually owning the responsibility and the outcome, they vanish.
I have people join my teams' call simply to write down what my team and I have completed so they can go to their management and state that they "drove" the achievement or maybe "advised" despite not contributing in any way to any technical discussion: simply trying to take other people's work and represent it as their own.

@de LOL earn a lot more? let me count the $5-10-25 Citi shares? years of bonus option shares? EZlife happy wife and HR barely knows my name bro. Clients? they know my voice on the first note. HowUdoin?

@e4

Hello, Citi HR !

@dy I count 20 C12-15s and the 16s (and some clerks) on my floor with EZ jobs, fluffy marketing and relationship and product activities, travel and AI nonsense to keep them looking busy while clients pay us hundreds of millions in fees and rate spreads. You friend picked the wrong biz or just didnt know to manage your career. Lets see,its 330pm time to go home. Catch yall after 10 tomorrow if i come in. Citi is great like that... JPM/GS work like dogs, in suits and actual man shoes. Behave folks....

@d2 sounds like something HR would say 🤣

@d2

That's the point. It took you forever to reach C15 because Citi is Broke A$S Poor and refuses to In-seat promote people due to the salary increases tied to those In-seat promotions.

If you Quit Citi after 5 to 10 years instead of waiting around forever to get to C15, Yoda-level Years as you stated, you could've been making a lot more money!

@cy my age+time is Yoda level. Well played I may say. Identify your decision makers, separate and avoid the clowns and market thyself oh fellow bankers. Lesson #42 invite and introduce bosses to their peers on calls and at client events and let them do the talking. Lesson #43 remind them you have done so, repeat... Stop complaining, take action. And no, I'm not HR, they barely know me.... (and I don't know them)

@cp

Hello, Citi HR !

Even if you're not HR, how many years did it take you to get to C15 ??

It could Not be less than 15 years, and this is a conservative estimate. More like 20+ years.

That's exactly how I became a C12-13-14-15 (I was hired on-the clock clerking). Do the work nobody else wants to do and face clients. You all missed them most important step, market yourself like a Rothchild not a Ewe.

They're looking to fire you much less give you a promotion. You're getting fired.

I am in the same boat where I am essentially the manager of my team yet no role or designation or pay to go with it. And they keep cutting from my team. They are running folks into the ground .