Identify another 10% staff for layoff in 2027. This is in addition to the 5-7% staff rated 4 this year.
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This contributed to and what happened with the US $900 Million Revlon wire transfer Fvck Up in August 2020.
This resulted in additional Consent Orders against Citi from the bank regulators.
Flexcube and other outside, outsourced vendors-contractors who have No idea about UAT and how Bank employees actually interact with and use banking websites and interfaces blindly approved and clicked away $900 Million.
And then Citi employees reiterated the approval by approving and confirming the inaccurate wire transfer!
Dysfunction, fecklessness and incompetence everywhere in the Joke CitiCircus House of Cards! 🃏🎪🤡
Off-shoring key developer roles ensures zero business acumen or empathy.
You get programmers moving data around with no understanding of what they mean, how they are used, nor how to check for quality with QA shuttered in SH.
So, prod users do checks with live data.
I fully agree. If you care about advancing your career, think twice about joining Citi. Top talent from other banks often realizes after a couple of years that their skills and potential are being wasted.
@n9
True and correct.
Citi and HR refuse to believe what you posted.
Either that OR they're purposely denying reality to their own employees because doing so will further Lower Morale, if that were even possible since it's already in H3LL, and further disincentivize employees so that they do the bare minimum work.
Based on several clues, I believe it's the latter.
Citi and its employees are soooo trapped in their own CitiBubble🎈Matrix🥅 that they refuse to believe GS' and JPMC' employees' calibre and quality are superior to that of Citi's.
I've worked for Citi's envied Competitors, and so I DO have a frame of reference where I can make valid comparisons.
Example: A GS or JPMC Vice President is like a Citi Director or Managing Director in terms of work experience, skills, knowledge, salary-compensation etc..
And so if anyone is Psych0 🤪 enough to want a job at Citi, and you're a VP at GS or JPMC, make sure to apply for Director or Managing Director jobs.
But in general, Citi is where your career goes to D!E, in addition to the low or stagnant Salaries and Bonuses. Career Development is Non-existent and only Lip 👄 service at Citi.
You will NOT learn anything of value that you can use at Competitor companies. Plan to spend or rather, waste only 3 years at Citi before you move on to the next company.
@hh Goldman does that every year, still exists after 150 years... This is not the problem. Tha problem is the average quality of the Citi's employee is way lower than the average quality across the Street, because, as far as I can see, it was infiltrated by mo--ns after 2008 and now they run it, so they hire and promote more mo--ns to keep themselves safe...
At Citi, the Bottom 10% Bucket is accurate. It's real.
I've literally been in meetings where the MDs said they were ordered by HR and their own managers to FIND Bodies, employees who will get placed in the Bottom 10% Bucket regardless of actual work performance because employees are rated relative to other employees' work performance.
And so even if you don't deserve to be placed in the Bottom 10%, if you're even so much as perceived to be borderline relative to your co-workers, you're Fvcked!
You're getting Rated 4s on some or all of the ratings categories. This leads to Zero Bonus and also possibly a PIP.
Enron did the above......Enron NO longer exists, blew up itself, Arthur Andersen LLP and the World's economy 🌏 to kingdom come!
Sunbeam did the same. It No longer exists.
Post ID: @nq+1m5gbf2p9
@bk You're right. tech is costly department never ever bring values. Data tech is an example of sh!t.
Not good, but let's be fair - tech at Citi is sh-t, someone has to take responsibility...
I would suspect cuts will happen on November 2026 and February 2027.