There are +6000 employees supporting Citi current transformation effort. Its slow and Citi has over hired. Now Citi wants their employees to leave on their own! Citi is moving backwards. Agree with me?
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With the cuts to the OCC and Jane's leaning into being friendly with the current administration; I would be shocked if we were still under a consent order at this time next year. Wells Fargo's issues were way worse then ours and theirs are getting dropped left and right.
We won't be out from under a consent order any time soon, especially a year. Likely more like 5-10 years. KYC took about 10 years to get out from under that.
They are only a joke in execution. The reason they were hired is it's part of our consent order required response. The second it's lifted we'll have widespread layoffs in risk. Probably this year.
Absolutely agree, no second thoughts