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Citigroup news: Citigroup layoffs 53,000 jobs. This Citigroup job cuts news i read on Yahoo Finance. This City layoff should be done after suffering losses from mortgage debt. Is this why Well Fargo buy Wachovia?

Because of the Citigroup layoff news, the Citigroup stock ( stock symbol = C ) down to $9. Will the Citigroup go down even further?

In my view, stock price would decrease in short term but in long term, this job cuts would help Citigroup to reduce their expenses and Citigroup stock price would increase. http://investinginstock.blogspot.com