Citi, Barclays Join Rivals in Investment-Banking Job Cuts

The video discusses the current slump in investment banking and capital markets, highlighting job cuts at major banks like Citigroup and Barclays. It notes a significant slowdown in IPOs compared to 2021. The discussion extends to broader trends, with banks making cuts before year-end bonuses and evaluating bottom performers. The video also explores future challenges and potential rehiring in 2023, with a focus on the impact of underwriting fees and the situation at Credit Suisse.

What is the main reason for the job cuts at Citigroup and Barclays?

• Increased competition in the market

• A significant slowdown in deal-making and capital markets

• Technological advancements reducing the need for human resources

• Expansion into new markets

How does the current IPO activity compare to 2021?

• It has slightly increased

• It remains the same

• It has increased significantly

• It has decreased drastically

What is one reason banks are making cuts before the year-end?

• To prepare for a merger

• To avoid paying year-end bonuses

• To expand their workforce

• To invest in new technology

Which bank is mentioned as having its own set of issues?

• Barclays

• Citigroup

• Credit Suisse

• Goldman Sachs

What is the speculation regarding the banking sector in 2023?

• Banks will expand into new markets

• Banks will focus on technological advancements

• There will be more job cuts and potential rehiring

• There will be no changes