Jan 12 - Citigroup on Friday reported a $1.8
billion loss for the fourth quarter as it recorded charges to
refill a government deposit insurance fund and carry out.
-Citigroup will cut 20,000 jobs over the next two years, its Chief Financial Officer Mark Mason said on Friday, after the bank reported a $1.8 billion loss for the fourth quarter. The lender, which currently has 239,000 employees worldwide, will reduce that headcount by 20,000 as part of a sweeping reorganization, Mason told reporters. Citi also expects to shed a further 40,000 jobs when it lists its Mexican consumer unit Banamex in an initial public offering.
Flagging loan margins, one-off charges drag down profit at major US banks gazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gazette.com Daily Mail and Mail on Sunday newspapers.
Citi to cut 20,000 jobs through 2026, swings to $1.8 billion loss gazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gazette.com Daily Mail and Mail on Sunday newspapers.
Citi to cut 20,000 jobs through 2026, swings to $1.8 billion loss gazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gazette.com Daily Mail and Mail on Sunday newspapers.