Filings from earlier this week revealed that the job cuts would affect 239 staff members from its primary banking division, 44 from its broker-dealer segment, and three from its technology department. In January, Citigroup announced plans to eliminate 20,000 jobs over the forthcoming two years, a decision that came in the wake of what it…
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Fraser has initiated a multi-year plan aimed at reducing administrative complexity, enhancing profitability, and improving the performance of the company's stock, which has historically underperformed compared to its counterparts. For the quarter ending December 31, Citigroup reported a loss of $1.16 per share. This result was negatively impacted by $3.8 billion in charges and reserves,…
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Deutsche Bank is on its way to the most significant restructuring in decades. The German bank announced on Sunday that it will exit the global equities sales and trading unit, cut down the investment banking arm and slash 18,000 jobs in order to try to improve profitability. According to CNBC, Deutsche plans to cut 18,000…
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