I’m waiting to see what happens after the layoffs. Layoffs always cause a stock bump. The announcement of a multiyear layoff, while tragic, was smart for a sustained climbing stock bump but what about after?
You have to have something new that your competitor does not or do something better than your competitor. I’ve never seen a Citi bank, an actual walk in bank and I’ve never seen a Citi ATM other than what’s at the office. So we make the direction of wealth management. Oookay, so what’s our plan of getting that market share? People don’t just move money from a well established bank to another bank because they are bored with nothing to do.
What’s the plan to still have the stock grow post the layoffs? What are we doing to accomplish that, that’s either new or better than other banks?