*Poor executive leadership. Anyone in a position to change the trajectory of the company, lack the knowledge, experience, and skill set required to do so.
*Leadership is too laser focused on odd processes to fix problems, they lose sight of the problem itself. Many of their practices sound great in theory, but often results in a bunch of people spinning their wheels to check a box that never deliver any type of real solution.
*If you get too engrained in “the culture” you risk eventually becoming a part of the furniture while making a mediocre salary and may lose your motivation to move out.
*The significant challenges plaguing the sales organization, which some have addressed in other reviews on this platform, is a direct result of an executive leadership team who fail to understand the systemic consequences of their decisions. The commission and bonus structure for sales has led to dangerously toxic behavior that is not conducive to sales growth.
*Their inability to accurately forecast walk a fine line between educated inconstancies and blatant incompetence.
*Leadership uses buzz words like “executive presence” as a way to justify the promotions of associates who are unqualified for their roles.
*The remaining employees at City will likely become victim to their arrogant unilaterism. The perpetual gaslighting paired with toxic micromanagement tactics made this company miserable to work for.
*I used to believe leadership fought off private equity firms to maintain a family like culture, but at this point, my best guess comes down to nepotism and self preservation. If they wanted to destroy the culture, PE’s could certainly accomplish that for them, and at the very least, deliver a short term profit in the process.
*While blaming the state of the economy and consumer spending trends may provide some reprieve from the guilt they should feel as a result of failing profits. However I would argue the poor decisions made by leadership have played a pivotal role in their current decline. It didn’t take a Harvard economist to have the foresight to determine the incremental boost they saw during the pandemic was short term. They chose to make reckless investments which became unattainable to fund. While the industry may be recognizing some struggles a whole, most of City’s shortfalls are self inflicted.
