It looks like Jane's strategy of slashing jobs and the personal devastation that goes with losing work was all worth it because the market is back up for Citi. Hope the ride on your hellbound train is worth it Jane.
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Jane should be the first one to leave as she never bring actual revenue raise but rely on sell out business and redundancy. Citi dropped from the top few places to the bottom on Wall Street after she became the CEO.
Not going to lie, if going Citi going a bit lean with the previous layoffs prevents future mass layoffs from the upcoming tariff induced recession, then I’m content and somewhat happy with Jane’s strategy.
It will be a brutal job market moving forward, so earnings going up should keep us safe for now.
A really good call and stock responding nicely. Headcount not mentioned. Appears widespread layoffs not in the cards which is good news for us.
all that matters is the shareholders are happy, who cares about the ex employees lives it ruined. As long as there is steady increase in revenue, thats all that matters. Even better if Citi continues to do the same thing they always been doing. Its not about innovation, its more about the $$$. If Citi is forced to innovate due to money, they will.
dont worry about Citi, they will be fine. Please worry about you and your future. Citi is too big to fail and worse case scenario, the government will bail them out. They basically became a utility company. Your local water company can be the worse business on the planet, but they control your water supply. You cannot destroy your local company water supply because it is essential. So you let it be because you need water to live. Never going to the be the next hot water supply company. These companies become complacent since the have government backing and are so integrated in the lives of its customers, its not going anywhere
What concerns me is the aftermath. The plan afterwards is…….what?
A layoff almost always spikes up a stock price, but is it sustained? The tools in your toolbox to drive the price up has to be more than a layoff. Do you have something else other than that? THAT is the question. So we’ll have another round or two and then what? It’ll be at this point is where the rubber meets the road.