He pulled the trigger on 50,000 folks back in 2008. It was a defining moment for Citi, It was massive and horrendous. So, our genius Vikram turned around and hired new folks very soon, so what a stupid mistake all of this was. Execs are more sophisticated today. They do not want to draw any attention and there are always many, many small batches of layoffs. If you were to aggregate all those redundancies, RIFs, cuts into a big one, it'd still be massive, but doing it in smaller batches works miracles when it comes to the overall image of the company.
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