🧵 1. Citigroup plans to cut 20,000 jobs by 2024 as part of a sweeping reorganization, aiming for a staffing level of 180,000 employees. #business
🧵 1. Citigroup plans to cut 20,000 jobs by 2024 as part of a sweeping reorganization, aiming for a staffing level of 180,000 employees. #business
🧵 2. Despite reporting a $1.8 billion loss for Q4, Citigroup's underlying business showed resilience, say analysts. Shares rise 0.3%.
🧵 3. Citigroup's revenue fell 3% to $17.4 billion in Q4, with markets division's revenue dropping 19%. CEO Fraser aims to cut bureaucracy and boost profits.
🧵 Read more at: https://www.investing.com/news/economy/citi-swings-to-18-billion-loss-on-slew-of-charges-3273519