Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Citigroup Plans to Cut 20k Jobs

wsj.com

Post reply on HN
Print view View original

71–80 of 213 posts

Re: Citigroup Plans to Cut 20k Jobs

#71

Post by gibsonf1 »

bushbaba wrote: post #66
thiago_fm wrote: post #21

They do an outstanding job in mismanaging money. Surprised they are only cutting that much. They are on their way to become a new credit suisse, hopefully this helps to change that course. If you are interested in this subject, compare it to other big banks like JPMorgan Chase, Bank of America etc. The difference is abysmal.

I never got why people choose citi. They don’t offer best lending rates, they don’t have a vast ATM network, their credit card benefits are worse than chase/amex, etc. seems they aren’t really amazing at any particular segment but meh in all.

We chose them because their international operations are better than the others (we do https://trinpod.us and https://trinpod.eu )

Re: Citigroup Plans to Cut 20k Jobs

#72

Post by bushbaba »

punkbit wrote: post #29

Housing is extremely expensive. I wonder how people pay rent, mortgage, and other expenses with so many layoffs.

Take a mortgage. You get severance. Then if you fail to make payments it’ll take 3-6 months before foreclosure starts. Most can get a job within that time frame.

Re: Citigroup Plans to Cut 20k Jobs

#73

Post by orangepurple »

purplerabbit wrote: post #70
bushbaba wrote: post #66

Earlier quoted context omitted.

I never got why people choose citi. They don’t offer best lending rates, they don’t have a vast ATM network, their credit card benefits are worse than chase/amex, etc. seems they aren’t really amazing at any particular segment but meh in all.

They’re the only mega bank with both a 2% cash back card and a competitive HYSA

FYI: Fidelity also offers 2% cash back with reasonable terms

Re: Citigroup Plans to Cut 20k Jobs

#74

Post by matwood »

mattbrewsbytes wrote: post #49

[flagged]

A healthy economy shouldn't go straight up, and neither should healthy companies. Adjusting the workforce is a normal course of business. The big media news early in the week started with Google having a lay off which eventually turned out to be ~1k people. It sucks for those people, but is < 1% of the workforce. It's not even something that should have made big news, but everyone is looking for anything to fit a recession narrative right now.

Re: Citigroup Plans to Cut 20k Jobs

#75

Post by gmerc »

bushbaba wrote: post #66
thiago_fm wrote: post #21

They do an outstanding job in mismanaging money. Surprised they are only cutting that much. They are on their way to become a new credit suisse, hopefully this helps to change that course. If you are interested in this subject, compare it to other big banks like JPMorgan Chase, Bank of America etc. The difference is abysmal.

I never got why people choose citi. They don’t offer best lending rates, they don’t have a vast ATM network, their credit card benefits are worse than chase/amex, etc. seems they aren’t really amazing at any particular segment but meh in all.

It’s them or HSBC if you’re global.

Re: Citigroup Plans to Cut 20k Jobs

#76

Post by dmoy »

purplerabbit wrote: post #70
bushbaba wrote: post #66

Earlier quoted context omitted.

I never got why people choose citi. They don’t offer best lending rates, they don’t have a vast ATM network, their credit card benefits are worse than chase/amex, etc. seems they aren’t really amazing at any particular segment but meh in all.

They’re the only mega bank with both a 2% cash back card and a competitive HYSA

BoA has this, if you have at least $100k - a 2.625% cash back card, and with Merrill also has competitive HYSA (last I checked, 0.5% higher than Citi). BoA can be great if you have money, but sucks if you don't.

Re: Citigroup Plans to Cut 20k Jobs

#77

Post by dmoy »

orangepurple wrote: post #73
purplerabbit wrote: post #70

Earlier quoted context omitted.

They’re the only mega bank with both a 2% cash back card and a competitive HYSA

FYI: Fidelity also offers 2% cash back with reasonable terms

Yup and their CMA is better than the big 4 banks offerings. Get HYSA equivalent rates but just use it like normal checking, not having to shuffle stuff around like with Citi or BoA

Re: Citigroup Plans to Cut 20k Jobs

#78

Post by c22 »

bushbaba wrote: post #66
thiago_fm wrote: post #21

They do an outstanding job in mismanaging money. Surprised they are only cutting that much. They are on their way to become a new credit suisse, hopefully this helps to change that course. If you are interested in this subject, compare it to other big banks like JPMorgan Chase, Bank of America etc. The difference is abysmal.

I never got why people choose citi. They don’t offer best lending rates, they don’t have a vast ATM network, their credit card benefits are worse than chase/amex, etc. seems they aren’t really amazing at any particular segment but meh in all.

I like their Custom Cash card (5% back on your top spending category each cycle) cause it can fill in the gaps left by other cards. Their website and their app are both absolute garbage though.

Re: Citigroup Plans to Cut 20k Jobs

#80

Post by orangepurple »

dmoy wrote: post #77
orangepurple wrote: post #73

Earlier quoted context omitted.

FYI: Fidelity also offers 2% cash back with reasonable terms

Yup and their CMA is better than the big 4 banks offerings. Get HYSA equivalent rates but just use it like normal checking, not having to shuffle stuff around like with Citi or BoA

[dead]
Post reply on HN