They did say …. In “November”
So hasn’t been Monday nor Tuesday
…. Tomorrow? What’s worse - tomorrow or day before thanksgiving
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The layoff is the only thing Jane can think of as spin control for the loss of revenue and drop in stock price, that is the purpose for it. She’s got nothing else.
What is the purpose of the layoffs. It won’t make Citi a better bank. It may increase stock price for 1 month and then will be no strategic improvement. Those left will not trust mgmt and mgmt will not trust them. Downsizing never works. What works is innovation which requires new leadership with clarity.