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A pair of government regulators slapped Citigroup with a $135.6 million fine on Wednesday, saying the bank has made insufficient progress in resolving longstanding internal control and risk issues.
Citigroup (C) began a new round of job cuts Monday among senior managers as part of a sweeping reorganization of the country’s third-largest bank announced two months ago.The cuts amount to ...
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. "The fourth quarter was very ...
Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results and stock price.. About 20,000 employees will be let go over the “medium term,” New ...
Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services company based in New York City. The company was formed in 1998 by the merger of Citicorp, the bank holding company for Citibank , and Travelers ; Travelers was spun off from the company in 2002.
Regulators slapped Citigroup with $136 million in fines for failing to resolve long-standing deficiencies surrounding controls and risk management, a setback for CEO Jane Fraser as she tries to ...
Citigroup CEO Jane Fraser is betting a dramatic restructuring can revive the lender's stock price and remove decades of bloat.On Friday she disclosed how deep those cuts will go. The New York bank ...
Citi's operating expenses declined 2% in the third quarter. The bank increased its allowance for credit losses by about $1.9 billion, driving down net income to $3.2 billion, or $1.51 per share.