Citigroup will lay off 20000 employees
因醉鞭名马幌
发表于 2024-1-13 15:03:31
211
0
0
On January 12th, Mark Mason, Chief Financial Officer of Citibank, announced that Citigroup will lay off 20000 employees in the next two years. Previously, the company reported a net loss of $1.8 billion in the fourth quarter of 2023, the worst quarter in 15 years. The bank expects that in the long run, layoffs will save $2.5 billion.
FactSet believes that the bank reported a fourth quarter loss of $1.16 per share, far below the estimated 11 cents per share.
Citigroup stated that the parallel effects of multiple factors have led to the emergence of this result. These factors include $1.7 billion in fees that the bank had to pay due to the regional banking crisis last spring, $880 million in losses for Argentina, and $800 million in restructuring costs related to approximately 7000 layoffs in 2023. These layoffs are part of Citigroup CEO Jane Fraser's efforts over the years to reduce the company's red tape and increase lagging profits. Fraser called the results "very disappointing" on Friday morning, but stated that 2024 will be a "turning point year" for the country's third largest lender.
Manson said in an interview with CNN on Friday morning, "Whenever an industry or company experiences these types of cuts, it's difficult to boost morale." "Nevertheless, I want to point out a fact that we are very clear about the company's strategy and the momentum we expect."
In addition to the company's plan to lay off 20000 employees from its operations, the bank stated that it will lay off 40000 employees from its Mexican retail division through a public offering for the first time, reducing the total number of employees in the subsidiary from 240000 to around 180000. The bank stated that it expects to pay up to $1 billion in severance pay and restructuring costs related to the planned restructuring in the coming years.
It is reported that Citigroup CEO Jane Fraser first announced her comprehensive restructuring work in September last year. At that time, she stated that in order to reorganize the bank leadership, increase accountability, and increase stock prices, it was necessary to streamline employees. "We will bid farewell to some very talented and hardworking colleagues," she wrote at the time.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Bitcoin once broke through $64000 in the cryptocurrency market, with over 110000 people selling out in 24 hours
- Non farm payroll in the United States increased by 303000 in March, far exceeding expectations
- Twenty million people gathered to watch AI Liu Qiangdong
- 20 million people watched as "anchor" Liu Qiang played what game in Tokyo East?
- More than 13 million people watched Liu Qiangdong's AI digital debut "You Xi"!
- Douyu anchor "A Little Tuan Tuan" has been arrested, with over ten million people using her navigation voice pack
- Sudden! 85000 people sell out their positions. The Federal Reserve is making a big noise! What happened?
- Citigroup has raised Microsoft's target price from $495 to $520
- Although millions of people are exploding, I will continue to go! Dong Yuhui leads the volcanic city to ensure the smooth operation of JD Logistics throughout the entire process
- Completely collapsed, 230000 people sold out! Is it a precursor to the black swan's arrival in the virtual currency market's overall sharp decline?
-
アマゾンが米証券取引委員会(SEC)に提出した最新の規制文書によると、同社の創業者ジェフ・ベゾス(Jeff Bezos)氏は50億ドル近くのアマゾン株の売却を計画している。 今回ベゾス氏が売却を計画しているアマゾン ...
- 寒郁轩良
- 前天 13:28
- 支持
- 反对
- 回复
- 收藏
-
【メディア:バイデン氏は夜8時以降の活動を停止するためにはより多くの睡眠が必要だと述べた】複数のメディアによると、バイデン米大統領は水曜日、民主党の知事に対し、より多くの睡眠が必要だと述べたため、勤務 ...
- 什么大师特
- 昨天 10:57
- 支持
- 反对
- 回复
- 收藏
-
【ビジネス界のエリート100人が連名でバイデン氏の再選出馬の見通しに重大な挑戦】複数のメディアによると、数百人のビジネス界のリーダーからなる組織「Leadership Now Project」はホワイトハウスに書簡を送り、米 ...
- 不正经的工程师
- 半小时前
- 支持
- 反对
- 回复
- 收藏
-
【予想以上!テスラQ 2納入台数が44.4万台の株価上昇を記録2桁超】火曜日(7月2日)の米株式市場を前に、米電気自動車メーカーテスラ社は2024年第2四半期の自動車生産量と納入量の報告書を発表した。データによると ...
- 套顿各爱了
- 3 天前
- 支持
- 反对
- 回复
- 收藏