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Citi is betting its costly hiring spree will pay off

In a January memo to employees, Citigroup CEO Jane Fraser urged bankers to move faster and aim higher as she pushed the firm beyond its yearslong revamp. Loading audio narration… Now, the costly reality of hiring the dealmakers to realize that vision is showing up in the numbers.Citi said operating…

Congratulations, here’s a pay cut

Since losing his job in 2023, Scott had applied to 1,600 jobs, completed 78 interviews, and depleted his savings just to stay afloat. The constant rejection had become so unbearable that he went on antidepressants. So when a recruiter from a staffing company called with a job offer last December,…