Major HR and talent retention issues. Every week, an announcement about a top-level resigning is sent out. Whenever there's an issue, management's solution to fire someone at the top and hire a new and shiny band-aid with a large paycheck to solve said issue. However, what you have in the end is a loss of infrastructure knowledge. There are so many new people that no one knows how any of the legacy systems work, why they were installed, and they keep trying to re-invent the wheel. Company spends a lot of time and money hiring new people and expensive consultants, who at the end of the day are unfamiliar with why the problem exists. Barclays is still stuck in the old days of banking and they have not realized the value of technological innovation or cheap analyst labor. It's a very small company, but people are very unproductive and morale is very, very low. No one is committed to the company or takes pride in the company brand (at least in NY). It's hard to convince someone to stay when all other US banks on the street have better culture and better compensation.
