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.

What are the main reasons for job cuts in Wall Street banks as discussed in the text?

What specific actions did Citigroup, Morgan Stanley, and Goldman Sachs take regarding their workforce?

How did the pandemic years influence hiring practices in investment banking?

What economic factors are contributing to the job cuts in the investment banking sector?

In what ways are banks attempting to manage their expenses amidst the current economic climate?