I look for Us Bank Home Mortgage to fall. I'm a remote Mortgage worker just sitting here waiting on the chopping block..... see below what Citi is doing but we follow behind.
Citigroup's Major Cuts (Industry Context): Citigroup announced plans to cut 20,000 jobs by the end of 2026, with some cuts happening in early 2026, affecting the broader banking world.
We are not a big bank. That fact does not change just because Gunjan throws a fit. She only wants the bank to grow to fan her ego. Not for the customers, employees or shareholders. Someone please tell her to go get a job at the big 4 and leave us alone. It will be a win-win
The harder and harder USB tries to do what the 4 large banks do, the worse the impact for the business, the shareholders, the employees and the institutional shareholders, as USB does not have the scale, the size, the client base, market presence, Wall Street respect nor anywhere near the leadership team to operate like JPMC, BoA, Citi and Stagecoach Bank. The attempts to operate like a biggest of the big have dulled the super regional skillset necessary to compete with PNC and 53 for new customers or new acquisitions and competition from Truist and the other up and comers is challenging at best. Same dulling has allowed Worldpay to carry off Regions Bank and East West Bank referral relationship, both decades old payments partners that can get better deals and better service elsewhere while USB tries to a national player, solving social issues, righting the national political wrongs, while trying to run a bank operation in 3 degree weather
@ad You misspelled India as Arizona.
She will layoff, offshore, test out of string the AI game is, and then backfill any layoffs if needed in cheap labor markets like Arizona