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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 ...
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]
Stocks and bonds are tumbling after the December jobs report came in much stronger than expected. ... The chances that there will be no rate cuts in 2025 more than doubled Friday morning to 28%.
After a hot December jobs report pared back investor's hopes for interest rate cuts in 2025, ... , Citi , Wells Fargo , Bank of America ...
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 ...
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 ...
Citi's investment banking revenue jumped 35% to $925 million in the fourth quarter. Global investment banking revenue jumped 26% in 2024 to $86.8 billion, according to data from Dealogic.
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