A mysterious yellow flyer is circulating among staff at the World Bank today, and it shows employees have serious problems with the bank’s current president, Jim Yong Kim.
The leaflet, called “Yellow Flyer No. 3,” calls on staff to walk off the job and gather in the building’s foyer every Thursday until concerns over the Bank’s management are addressed.
The Bank’s current president is increasingly unpopular at the institution, with many staff deeply dissatisfied with his tenure so far.
“There’s a culture of fear with Kim because the perception is that you get fired if you disagree with him,” one World Bank staff member told Business Insider. “I think the sense is that he wasn’t qualified for the job, a bit superficial, narcissistic, and promises a lot but delivers little on implementation.”
Staff have been incensed at President Kim’s reform process, which they claim has been needlessly opaque, unfocused, and lacking in substance. They say President Kim has fired several well-respected managers, curtailed employee benefits, and talks of new budget cuts, all while wasting money on external consultants and bonuses for senior staff.
The Bank, established to combat global poverty, came under new leadership in 2012 when President Barack Obama appointed former Dartmouth President Jim Yong Kim to head the institution.
One former staff member told Business Insider that while Kim initially raised expectations over much needed reform to red tape and ageing technology, he has failed to follow through in any substantive way.
“The entire reform effort by President Kim should be taught in business schools as a case study in how to poorly manage institutional reform,” the former employee said. “It has resulted in complete chaos and created a culture of fear, uncertainty, and distrust.”
Earlier this month, Kim told reporters, “We’re undergoing the most thorough, the most ambitious reorganization in close to 20 years, so it’s not a surprise to me that there’s anxiety, that there’s concern.”
Business Insider reached out to the World Bank but has not yet received a response. We will update this post when we do.
Here’s the full flyer:
Business Insider Emails & Alerts
Site highlights each day to your inbox.