He also said the U.S. may take over the strait, adding “I’ll blow the s–t out of them. If they don’t make a deal, we’ll collect tolls.”

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.