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So, who is the company run for?

In a post that could be viewed by all staff, the long-serving employee criticised bosses and the direction in which they were taking the lender, saying Monzo had lost its way and was now overly focused on turning a profit at the expense of employee wellbeing.

The message was swiftly removed by management who said it was unduly critical and diminished the hard work others were doing.

Yet in a show of defiance, other employees started re-posting screenshots of the original message, ultimately forcing management to capitulate. The situation was described by one ex-employee as “a fiasco”.

Two years later and Monzo’s mission to turn a profit is in its final stages, with the challenger bank expecting to breakeven in 2023 after years of losses. But at what cost?

In a series of interviews with current and former employees, The Telegraph has been told how the digital lender has evolved from being a supportive employer to one that turns the heat on its staff as it races to appease impatient investors.

The owners, obviously, for all here at least are capitalists. But that bankers don’t grasp that is a fairly difficult sign of the times, innit?

8 thoughts on “So, who is the company run for?”

  1. The company prides itself on promoting diversity and inclusion policies, which, to some, might appear excessive. On its website, Monzo has a near-4,000 word section titled “Our tone of voice”, in which it describes why it urges staff not to use terms such as “blacklist”, “guys” and “elephant in the room”.

    Lol, gay.

  2. “But that bankers don’t grasp that is a fairly difficult sign of the times, innit?”

    Oh, it’s obvious that the bankers there understand perfectly.
    All the “support personnel” part of the “inclusivity” statement… quite another matter.

    The Firing of the Twats by Musk has given us decades of material to make memes about regarding their expectations about what a “supportive employer” is…

  3. Steve – nah, Diane’s a hippo. It’s not racist, it’s transphobic because “truncated”.

  4. Elephants, being grey, deny the Black/white divide.

    Also they have long memories and that’s presumably disapproved of by the Woke.

    Anyway I think they are magnificent and intelligent creatures. The Elephants not the Woke.

  5. Grikanth – it’s even worse. Monzo does almost not Capital B banking. It’s mainly painfully hip technology product teams. That lot who witter on about “under represented minorities” while employing far more of the LBGT… lot than that would match the representation in the general population.

  6. Isn’t making a profit so the employees can stay employed and receiving a wage/salary the primary way to ensure employee wellbeing, everything after that is just nice to have stuff, hierarchy of needs etc

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