Citigroup Earmarks $600 Million in Severance for Fresh Job Cuts
2 days ago · Citigroup Inc. is planning to reserve $600 million for severance payments in 2025 as it continues to trim its workforce and cut expenses, according to Chief Financial Officer Mark Mason. The $600 million figure is down about 14% from last year, when the bank shed more than 10,000 jobs. Typically, Mason said, severance costs would hover around $300 million.
Citigroup Earmarks $600 Million in Severance for Fresh Job Cuts
2 days ago · Citigroup Inc. is planning to reserve $600 million for severance payments in 2025 as it continues to trim its workforce and cut expenses, according to Chief Financial Officer Mark Mason.
Citi Cuts More Jobs in Push to Meet CEO Fraser’s Expense Goals
1 day ago · Citigroup Inc. eliminated more jobs this week, just as executives were announcing new share buybacks and doubling down on Chief Executive Officer Jane Fraser’s commitment to expense reductions.
Goldman Sachs and Citigroup Are the Haves and Have-Nots
2 days ago · Paul J. Davies is a Bloomberg Opinion columnist covering banking and finance. Previously, he was a reporter for the Wall Street Journal and the Financial Times. A growing split between the haves ...
Citigroup axes more jobs as part of ongoing cost-cutting plan
1 day ago · Citi's stock surged 37% in 2024, outperforming the broader banking index , opens new tab and the equity markets , opens new tab, as investors cheered Fraser's efforts to transform the bank.
Citigroup Axes More Jobs as Part of Ongoing Cost-Cutting Plan
2 days ago · Reuters. FILE PHOTO: Customers use ATMs at a Citibank branch in the Jackson Heights neighborhood of the Queens borough of New York City, U.S. October 11, 2020.
Ex-Citi Bankers Urge Board to Claw Back Hundreds of Bonuses - BNN Bloomberg
Oct 31, 2024 · (Bloomberg) -- A group of former Citigroup Inc. bankers is urging the firm’s board to cancel bonuses for hundreds of managers, slash spending on consultants and take other steps to accelerate the company’s turnaround.
JPMorgan, Goldman, Citi Rake in Record Hauls as Biden’s Era Ends
2 days ago · For all of Wall Street’s excitement about Donald Trump ’s growth agenda, the biggest banks are ending the Biden years on a high note.. The four giant lenders that reported full-year results Wednesday notched their second-most profitable year ever in 2024, trailing only Joe Biden ’s first year as president. The group’s trading and …
Citi, Apollo Join Forces in $25 Billion Private Credit Push - BNN Bloomberg
Sep 26, 2024 · (Bloomberg) -- Citigroup Inc. and Apollo Global Management Inc. are teaming up in the fast-growing private credit market, agreeing to work together on $25 billion worth of deals over the next five years.
Citi’s Fraser Tries to Calm Jitters Over Regulators and Returns
Oct 15, 2024 · (Bloomberg) -- Citigroup Inc. Chief Executive Officer Jane Fraser started the day boasting that all five of the bank’s key businesses had seen revenue climb in the third quarter. Hours later, she found herself forced to deny that the bank has a secret regulatory straitjacket.