Citi to Resume Cutting Jobs This Week

The video discusses the anticipated job cuts in major banks, emphasizing the need to manage costs amid losses. It highlights the potential regulatory actions against Citigroup by the OCC and the Fed, focusing on the bank's risk and control functions. The discussion also touches on the impact of these issues on Citigroup's leadership, particularly the stepping down of CEO Michael Corbat.

What is the general sentiment regarding job cuts in the banking sector?

What has been telegraphed across recruiters regarding job cuts in big banks?

What actions are federal regulators considering against Citigroup?

What could a consent order require Citigroup to do?

How did the situation affect the stepping down of Michael Corbat?