Citi (C) Cutting More Positions 'Souldn't Be a Surprise'
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FBN's Gasparino: Citi (C) Might Not Be the Only Bank Mulling More Job Cuts...
December 5, 2012 1:19 PM ESTFox Business Network reporter Charles Gasparino says Citi (NYSE: C) might not be the only one making job cuts in the financial sector.
According to his Twitter account: "MS, GS contemplating new workforce cut... More
Analyst Pleased With Citi (C) Cost Savings Plans
December 5, 2012 10:47 AM ESTShares of Citi (NYSE: C) are moving higher on Wednesday after the bank, under new leadership of CEO Michael Corbat, announced it was eliminating 11 thousand jobs resulting in $0.9 billion in saving in 2013 and $1.1 billion in 2014.
Commenting on the developments, Wells Fargo analyst... 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
