Analyst Pleased With Citi (C) Cost Savings Plans
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Citi (C) Cutting More Positions 'Souldn't Be a Surprise'
December 5, 2012 1:41 PM ESTEarlier in the session, Citigroup (NYSE: C) announced plans to cut its workforce by 11,000 jobs, or roughly 4 percent of the total. But, the bank might not be done yet.
Fox Business says an executive told them the bank is still looking... More
Citigroup (C) to Reduce Workforce by 11,000, Take $1B Charge in New Repositioning
December 5, 2012 9:03 AM ESTCitigroup (NYSE: C) announced a series of repositioning actions that will further reduce expenses and improve efficiency across the company while maintaining Citis unique capabilities to serve clients, especially in the emerging markets. These actions will result in increased business efficiency, streamlined operations and an optimized consumer footprint across geographies.
Michael Corbat, Citis Chief Executive Officer, said, These actions are logical next steps in Citi's transformation. While we are committed to-- and our strategy continues to leverage-- our unparalleled global network and footprint, we have identified areas and products where our scale... More
