Thread regarding Citigroup Inc. / Citibank / Citi layoffs

It's not just the people who have been here for 20+ years. Though I agree that group has grow pretty stagnant. There are a lot of people who are stuck in the status quo and want to do things the same way all the time (even if it's azzbackwards). Why be more efficient when it's easier not to think and stick with the same ridiculous processes? People are hording their work, working in their own personal individual silos, and hindering progress because they think it will grant them job security.

100% agree with the post below.I have seen this first hand. Not sure why do you want to hire talented people from outside and not give them a platform to bring about a change. People come to Citi thinking they will be able to influence and make a positive impact but are unable to do so because they are not given the positional authority to do so. And also influencing without authority is almost impossible when your upward leadership is long timer at Citi and cannot embrace change.

Theres also an issue with change. Citi and its managers who have been around for 20 - 30 plus years have been placed into positions they weren’t qualified for. When a new person who actually has a degree in the field plus experience from other industries joins Citi, managers push back because they can’t adjust to new concepts or ideas. Citi then turns around and removes the newer employee in mass layoffs in the name of saving a buck. What this means is the same old products and processes remain and Citi never grows. There is a need for the senior Citi employees and Im not saying they provide no value, however they should look at hiring people into senior management roles who have a fresh approach on things so it trickles down. If you were placed into a role 20 years ago by a friend then those people need to be phased out because I can tell you this happened alot at Citi and the damage is surfacing now before our very eyes.

I honestly don't think pay is the issue, at least not in some regions. Raises and bonuses are. One of the issues is lying on the job posts about nature of the job (which top talent would flee from once they realize they were promised a role that is not true). Then the other issue is the uncertainty about job security, it's a ki-ler. Anybody that can be picked up immediately by any of other firms, would leave. So Citi is stuck with those of us that would probably struggle finding a much better job elsewhere.

Citi is able to pick up good talent, the problem is retaining it. Me, as "avg" talent, can see this and still feel overqualified for my role and team, but the pay, and my ability to find another much better job, as avg, is keeping me here.