“The deep distrust between the US and Iran meant bumps in the road were inevitable and this feels eerily similar to the trade negotiations between the U.S. and China during President Donald Trump’s first term, which had numerous flare-ups followed by de-escalation.”

20,000 layoffs, 14 markets exited, one flatter bank—Jane Fraser’s Citi playbook is working. Wall Street wants to know what’s next.

Around 41% of employees say their companies trimmed management layers last year, according to Korn Ferry.