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Citigroup will cut 20,000 jobs over the next two years, the bank said on Friday, after reporting a $1.8 billion quarterly loss driven by a string of one-off charges. ... Citi to cut 20,000 jobs ...
The job cuts are part of an internal restructuring that Fraser has called the "most consequential" change to how Citigroup operates in nearly two decades. Citi has pulled back from consumer ...
In January 2024, Citi reported a $1.8 billion loss in the fourth quarter of 2023 and announced plans to cut 20,000 jobs, roughly 8% of its workforce. [85] At the bank's 2024 investor day, Citi highlighted its Services division, which produces income from "financial pipes". [86]
Job cuts are continuing into 2025 following waves of reductions last year. Companies such as Meta, Microsoft, BlackRock, and BP are conducting layoffs. See the list of companies letting workers go ...
Citigroup Inc. or Citi (stylized as citi) ... funds. On November 17, 2008, Citigroup announced plans for about 52,000 new job cuts, on top of 23,000 cuts already made ...
In 2023, companies planned 721,677 job cuts, a 98% jump from 2022, according to a new report from professional outplacement firm Challenger, Gray, and Christmas. The number marks the highest ...
The U.S. economy is headed for a hard landing, and Fed rate cuts won’t be enough to rescue it, Citi says. Jason Ma. May 5, 2024 at 6:21 PM ... Looking past the upbeat headline jobs numbers, he ...
In October 2008, a desperate Vikram Pandit, CEO of Citi, said the financial firm had no alternative than to cut 50,000 jobs as part of a plan to knock down expenses by 20%. ... Number of jobs cut ...