Earnings: $1.34 a share, vs $1.22 expected
Revenue: $19.58 billion, vs $19.49 billion expected
Citi's net income was $2.86 billion from the quarter, an improvement from a net loss of $1.84 billion a year ago.
27 replies (most recent on top)
Here to learn about layoffs that may be affecting me or my colleagues.
Really would like to know about these things.
But precious little info about it on this site, "theLAYOFF.com."
One guy repeating $hittybank over and over like the Rain Man, who seems to desperately want me to leave.
I like it here.
Post ID: @g8+1jhn2g1ba If you love your 3-3 $hittybank, then why are you reading posts on Bash Employers Site www.thelayoff.com ???
3/3 here. I love my sh---y bank work life balance. You losers who keep posting sh---y bank this and that were likely laid off because you were poor performers and still haven’t found a job. To those people (not most). I say HAHAHAHaHa.
Pretty obvious who the butt-hurt 3,3s are in this thread. Too afraid to spell out “sh-t” but we should take their management insights.
Hopefully we will see a good bump in the share price, which will make our jobs more secure.
It's trending positive, but maybe it needs to be rising faster?
10K let go all at once = 10K gone.
10 let go over 12 months = is slower but is still 10K gone.
So…..HOORAY!!! LAYOFFS HAVE SLOWED DOWN!!!!…..wait….what?!?!…..nevermind….
Slowing perhaps, but still funding at twice the average annual severance budget plan level
It does. Layoffs slowing. Thanks Captain obvious.
Citigroup Earmarks $600 Million in Severance for 2025 cuts
Well I guess that answers if layoffs will be slowing...
https://www.bloomberg.com/news/articles/2025-01-15/citigroup-earmarks-600-million-in-severance-for-fresh-job-cuts
Post ID: @b5+1jhn2g1ba And $hittybank's Besotted Blind Lovers ❤️are oblivious to the fact that $hittybank continues to nickel and dime, Blood Svck every last penny out of the Employees.
The New Even More Stingy 401k/pension plan announced via email starting in 2025 is only one of many stratagems and cost-cutting measures.
Lower overall salaries, Lower or Zero salary increases, Lower or Zero bonuses and In-Seat Promotions reduced TO 1% from an already laughable, hysterical 🤣20% (GS and JPMC promote at 70%+) are some of the other stratagems.
These are the machinations of Desperate, Penurious Ugly, Sickly Dog Companies like $hittybank. History repeats itself. IF any of $hittybank's Besotted Blind Lovers ❤️ can read AND have reading comprehension skills, the defunct financial institutions resorted to the same hanging-by-a-thread on-a-life-line cost-cutting measures Too-Little-Too-Late Before they finally went 6 Feet Under.
GS and JPMC are no where near perfect in any way. But one of many things they have in common is that they know how and where to spend their money and resources, as well as where and when Not to. They do Not skimp on technology. They also sell products and services customers are willing to buy. They waste Not, and so they want Not during the difficult famine times or when they need resources. CEO Jamie Dimon is famous for instilling the "waste Not, want Not" philosophy in his employees.
Would they layoff instead of giving bonus?
Post ID: @av+1jhn2g1ba The important question is, How long can $hittybank sustain this??
Whether or not $hittybank hit it's promised Targets, And it did NOT because $hittybank had to Lower its goals and original Targets:
- $hittybank is Still Light Years behind GS, JPMC, BofA etc. the Competitors $hittybank envies.
- $hittybank Still needs to do mid-size volume Layoffs (Not Mass Layoffs as in RIFs and Not mini-Layoffs like 3 to 5 here and there).
Stock pops (7%?) after earnings call as investment community applauds trans formation effort and sh---y dividends and buybacks
600M expected in severance this year no - comp to 24 provided don't know what severance was ex the reserve last 4Q.
Lazy analyst didn't follow up.
Did say normalized severance is -300M
Post ID: @ah+1jhn2g1ba That's what Citi says now. One of the only ways Citi needs to reach its lowered Targets is to continue doing Layoffs.
Many successful companies return equity to their shareholders via stock dividends. But struggling companies do this nearly every year or after several years of distributing cash dividends, they suddenly switch to stock dividends.
The same with stock buybacks. Anything that's Not cash generally screams financial difficulties or instability. With the exception of Silicon Valley tech companies, this is related to companies that provide "free lunches" or other non-direct cash incentives like vacation days, but they give out miniscule or zero salary increases, bonuses or have expensive medical plans for the employees.
Post ID: @an+1jhn2g1ba The poster is talking about stock dividends Not cash dividends.
“ Only poor, destitute, cheap and financially struggling companies give out stock dividends to their Shareholders, instead of CASH” - - - you must be smoking cr@ck.
I guess Warren Buffet mustn’t know what he’s doing investing in all those companies that pay out dividends.
No reserve for head count reduction this quarter
Choo choo
I don't think so.
Checks notes - All Mag 7 stock pay dividend. Certain posters are blithering id--ts who were likely fired by my "sh---y bank"
LOL
Post ID: @a1+1jhn2g1ba Correct. And to the oblivious Bozos who are Fake happy about "$7 Billion returned to Shareholders", most of that was in the form of stock dividends.
Only poor, destitute, cheap and financially struggling companies give out stock dividends to their Shareholders, instead of CASH. RCA did this and gave Shareholders their TVs.
Post ID: @a1+1jhn2g1ba Correct. CEO Insane Jane, HR and her minions are sugar-coating an Ugly Sickly CitiDog.
For example, when companies tell and promise Wall Street that their Target is 100 and swear up and down that they will meet that Target, and then do NOT, and need to "Revise" and Lower their Target to 90 or Less, this means CitiDog is Unable to achieve the Board's and Wall Street's expectations.
GS, JPMC, BofA, Morgan and other Competitors, H3LL even Wells Fargo after all of Wells monetary fines and violations of Law for which the average Citizen would have gone to jail (but Wells is another Dog deemed to Big to Fail or Jail), are Light years Ahead of CitiDog.
Where CitiDog is Only Now, it should have been 20+ years ago ! Because of the aforementioned, CitiDog will most likely continue to Resort to Layoffs !
Post ID: @a1+1jhn2g1ba Correct. And to the oblivious Bozos who are Fake happy about "$7 Billion returned to Shareholders", most of that was in the form of stock dividends.
Only poor, destitute, cheap and financially struggling companies give out stock dividends to their Shareholders, instead of CASH. RCA did this and gave Shareholders their TVs.
Post ID: @a1+1jhn2g1ba Correct. CEO Insane Jane, HR and her minions are sugar-coating an Ugly Sickly CitiDog.
For example, when companies tell and promise Wall Street that their Target is 100 and swear up and down that they will meet that Target, and then do NOT, and need to "Revise" and Lower their Target to 90 or Less, this means CitiDog is Unable to achieve the Board's and Wall Street's expectations.
GS, JPMC, BofA, Morgan and other Competitors, H3LL even Wells Fargo after all of Wells monetary fines and violations of Law for which the average Citizen would have gone to jail (but Wells is another Dog deemed to Big to Fail or Jail), are Light years Ahead of CitiDog.
Where CitiDog is Only Now, it should have been 20+ years ago ! Because of the aforementioned, CitiDog will most likely continue to Resort to Layoffs !
Medium term returns guided down as a result of expected investment in data governance which is crucial in implementing AUI across the firm which absolutely will reduce headcount. Just not this year.
7bln returned to shareholders is the highlight for me :D No matter rain or shine - the fat cats always win! Let's be together in the difficult times! :D
Our RoTCE, which is the metric by which Jane is measured, is a failure. Revenue also is lackluster. Look, your ppl leave or don't produce when you subject them to chaotic management and uncertainty for over a year. Culture of excellense my ar-e!
no. wait until the Q&A.
we lowered are medium term return target. We have a history of not meeting our targets. This doesn't provide any comfort to the street that we will hit the new target even. the quarter was good yes, but I think the verdict is still up in the air on the longer term transformation. I think this year is going to be, make or break ... for Jane.
its dissapoingint because for months we've been telling investors we are super confident on medium term targets.. now oops.. 100 bps lower.