CEOs getting more ruthless

I mentioned in another topic how CEOs and the big stakeholders (the owners) are getting more and more ruthless. Nothing will ever make them happy.

Let's look at Citigroup's CEO and her recent internal memo. https://finance.yahoo.com/news/citigroup-ceo-jane-fraser-warns-181918727.html Just look at her tone and cold attitude.

Even though her company's stock is up year over year by a good amount, she is setting the tone for extreme goals, hard accountability, and another 10% cuts in jobs. BUT THEY WERE ALREADY PRODUCING RESULTS!!! But it wasn't enough. It's never enough. I guarantee you they skimped on their compensation numbers. I haven't checked out the citi page on this thelayoff website. I can only imagine.

Sound familiar. CEOs are going the opposite direction of leading with a carrot. It's ruthless, cold, harsh, sociopathic leadership. The owners are never happy. They need more and more growth on top of more and more growth. They own the federal govt, state govts, both parties including maga, and corporate boards and C-suites. The only politicians who are not part of this are called extreme by the billionaires. I suggest you look up how awesome Lena Kahn was. She went after companies during Biden years and boy of boy did they come after her. Look at the names of people who attacked her. At the end of the day, the owners are the enemy here.

You can bet that GK is going to follow her lead. And so will other banks.

I was just told to give my people who got meaningful or meets expectations who were at midpoint a 0% merit increase including hub people, not just remote. A zero. For meeting expectations.

This is the new normal. Slowly getting worse and worse like a frog in a large pot of water getting hotter and hotter. Fu-k this version of corporatism. Other than unions (you all got programmed to hate those), antitrust (break apart monopolies) and regulation (more and more of you are getting programmed to hate that too because it "hurts innovation"), what else can we do? We need a sustainable, healthy form of capitalism where the shareholders do not always get top priority.

The beatings will continue until morale improves.

#Leadership #Culture #Morale #Compensation #Layoffs

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@eg 100% agree! How you see executives and leadership acting is a direct parallel to what we see in our own political leadership. Where you have a leader whose strength is leading the people, you will see the same in business. Where you see leaders who lead the process, you will see the same in business.

A reflection of our current US Government unfortunately. Hang in there everyone, this will turn around.

@e0 the board and MC at this place doesn't hold the CEO accountable here either. They just say "yes ma'am" and will collect their multi-million dollar gold parachutes on their way out.

I'm at Citi and interesting that this post is on USB. Just so you guysh know, amidst all the layoff's (which people on Jane's watch overhired for to begin with), she's gotten a 20 million increase in her salary and the post of chairman of the board....the same board thatg is supposed to be a check and challenge on the CEO. She's not the only one, but there is something to be said about the corruption of Wall St and thr inability of the executive or Congress to reign that in

What we are seeing is 40 years of aggressive restructuring of the United States to prioritize stock prices above all else by villainizing the unions, purchasing elected officials and controlling the media. The tipping point has past as too many Americans are underemployed and don't have the money to spend. Those stocks must go up. The credit card bill is due and the wealthy want the poor to pay it.

@b8

It’s across the whole company. The guideline says need improvement no merit increase. Meeting expectations only 80 will get merit and 20% will not.

Who told you to give 0% raise? Name an business line please

It's an interesting case study in human nature we are living through. The company knows they control your livelihood and they know your options at most other corporations are the same. Most people comply begrudgingly, which is sad. Then you have some real bootlickers (you've seen them in here of all places trying to browbeat people into compliance).

If anyone is reading this who truly wishes to be free from this slavery we pretend is employment, you have to find another path and take risks.

Personally I'm at the point where I would rather be poor than try to grind out the rest of my working days living with the dread that comes with all this. Something inside me just cannot willingly comply pretending that commuting to a cube farm (with a laptop I brought from home) to sit on teams meetings all day is a meaningful use of my time.

I am reminded of the meme, "Anyone give themselves a raise by working half as much for the same amount of money?" lol

That is what GK and the culture is producing with these actions.

I'm in the right caste so I am safe

Good post and I could not agree more with you. It is very short term thinking from CEO's and such. We need to keep a database of these people so when the tide turns around the piper can be paid.

BAU capitalism is clearly not working for the average worker/consumer.

Thread regarding U.S. Bank layoffs

CEOs getting more ruthless

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