Citigroup (C) to Reduce Workforce by 11,000, Take $1B Charge in New Repositioning

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Go back to Citigroup (C) to Reduce Workforce by 11,000, Take $1B Charge in New Repositioning

Citi (C) Cutting More Positions 'Souldn't Be a Surprise'

December 5, 2012 1:41 PM EST

Earlier in the session, Citigroup (NYSE: C) announced plans to cut its workforce by 11,000 jobs, or roughly 4 percent of the total. But, the bank might not be done yet.

Fox Business says an executive told them the bank is still looking... More

FBN's Gasparino: Citi (C) Might Not Be the Only Bank Mulling More Job Cuts...

December 5, 2012 1:19 PM EST

Fox 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

Market Check: Apple Dip Pressures Nasdaq; Citi, ADP Data Evoke Mixed Reaction

December 5, 2012 11:51 AM EST

U.S. markets are largely mixed today, with Nasdaq lower by 0.7 percent, or 19 points, as it feels pressure from Apple (Nasdaq: AAPL) selling today.

The Dow Jones Industrial Average is up 0.5 percent, or 71 points, while the S&P 500 is up nearly 0.1 percent,... More

Analyst Pleased With Citi (C) Cost Savings Plans

December 5, 2012 10:47 AM EST

Shares 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

Citi (C) to cut over 11,000 jobs, take pretax charge of $1 Billion in Q4

December 5, 2012 9:00 AM EST

Citigroup, Inc. (NYSE: C) to cut over 11,000 jobs, take pretax charge of $1 billion in Q4.... More