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Citigroup's CFO Mark Mason plans to say more about the bank's restructuring next month at a banking conference in New York. Click here for in-depth analysis of the latest stock market news and ...
Citigroup is in the middle of a complicated restructuring.It made it clear Wednesday that its fourth quarter earnings report Friday will be complicated, too. The giant New York-based bank said in ...
Citigroup CEO Jane Fraser first announced her sweeping restructuring efforts last September. Her plans to rearrange the bank’s leadership, increase accountability and boost the share price, she ...
Citi has made sweeping restructuring announcements before, under Fraser’s predecessors. “Here we go again, one more Citi restructuring,” said Wells Fargo banking analyst Mike Mayo. “Why is ...
In November 2023, Citigroup began initiating layoffs as part of a corporate overhaul. The layoffs were part of a restructuring plan announced by CEO Jane Fraser, which includes the formation of five new divisions and the departure of several senior executives. The move was in response to Citigroup's stock performance and increased expenses.
According to CNBC, Citigroup’s restructuring process has become known internally as “Project Bora Bora. ... with its stock continuing to sell at less than half its tangible book value ...
Citigroup CFO Mark Mason said at a Goldman Sachs conference last week that the bank anticipates a charge of "a couple hundred million dollars" related to these restructuring efforts.
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 ...