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Jan 12, 2024 · The bank reported $1.8 billion in losses and revenue decline in the fourth quarter of 2023 and plans to reduce its workforce by 10% in the next two years. The layoffs are part of a larger reorganization effort to improve its financials and stock price amid a turbulent year for the industry.
- elizabeth.napolitano@paramount.com
- CBS News
- Freelance Reporter
Mar 25, 2024 · March 25 (Reuters) - Citigroup (C.N) is in the last phase of a sweeping overhaul to simplify its structure and improve performance, the bank said, after shrinking its workforce by 5,000 employees...
Jan 12, 2024 · New York CNN — Citigroup will lay off 20,000 employees over the next two years, CFO Mark Mason said Friday. The reduction comes after the company reported a $1.8 billion net loss for the...
- Nicole Goodkind
Nov 15, 2023 · Citigroup will start informing workers of their dismissals starting Wednesday, as part of Jane Fraser's plan to reorganize the bank. The cuts will affect chiefs of staff, managing directors and lower-level staff in several businesses, and may reach 10% of the workforce.
Sep 13, 2023 · Citi said Wednesday that it expected to disclose more information about layoffs before the end of November. “The risk for this type of move,” wrote analysts at Wells Fargo, “is always ...
- Rob Copeland
Oct 13, 2023 · Citigroup has said that the overhaul will lead to more job cuts, but hasn’t yet put a number on the level of layoffs. Despite the cuts, firmwide headcount has actually remained flat for the...
Sep 15, 2023 · NEW YORK, Sept 15 (Reuters) - As Citigroup (C.N) embarks on a sweeping reorganization, support staff in compliance and risk management are among the most likely to lose their jobs, say sources...
