Mass Layoffs Come To Wall Street: Citi Fires “Dozens” Of Investment Bankers
With tech companies “unexpectedly” firing thousands of highly-paid, woke millennials as the US economy crumbles into the worst recession since Lehman…
… the mass layoff wave has finally come to the even-better paid Wall Street where, as Bloomberg reports, Citigroup is the first bank to eliminate dozens of jobs across its investment banking division this week.
The cuts impacted staffers globally within the investment-banking group, which includes its capital-markets arms, said the people, who asked not to be identified because the information is private.
The reason for the mass layoffs is that investment-banking fees at Citigroup, led by CEO Jane Fraser, plummeted 64% in the third quarter.- READ MORE
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