Citi Cutting Hundreds of Jobs Across Company

The video discusses the significant job cuts across major Wall Street banks, including Citigroup, Morgan Stanley, and Goldman Sachs, due to expense pressures and economic uncertainties. It explores the reasons behind these reductions, such as over hiring during the pandemic and increased reliance on automation. The video highlights the impact of macroeconomic factors and the looming threat of a recession on the banking sector.

Which Wall Street bank made one of its largest job cuts in January?

• Citigroup

• Morgan Stanley

• Goldman Sachs

• JPMorgan Chase

What is one reason for the job cuts mentioned in the video?

• Over-hiring during the pandemic

• Expansion of branches

• Increased competition

• Decline in technology use

How did banks generally handle routine cuts during the pandemic?

• They stopped routine cuts

• They maintained the same level

• They increased the cuts

• They outsourced the cuts

What is one of the main ways banks are managing expenses amid economic challenges?

• Reducing headcount

• Expanding operations

• Investing in new technologies

• Increasing salaries

What economic factor is contributing to the challenges faced by investment banking divisions?

• Increased foreign investments

• Strong economic growth

• Deal slump

• High inflation rates