Citi to cut 20K jobs after worst fourth-quarter loss in 15 years
Citigroup plans to slash 20,000 jobs over the next two years after the struggling bank reported its worst fourth-quarter earnings in 15 years Friday.
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Citigroup plans to slash 20,000 jobs over the next two years after the struggling bank reported its worst fourth-quarter earnings in 15 years Friday.
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Citi also expects to shed a further 40,000 jobs when it lists its Mexican consumer unit Banamex in an initial public offering. It ultimately aims to reach a staffing level of 180,000 employees, Chief Financial Officer Mark Mason said.
US bank Citigroup to cut 20,000 jobs in medium term - Business - New York: Citigroup plans to cut 20,000 jobs over the next couple of years as part of a corporate reorganization designed to boost profits and return cash to s...
The reductions are part of a sweeping reorganisation, and equal about 10% of the bank's global workforce.