Citigroup will cut 3,500 full-time roles at two China tech centers as it revamps global operations to address risks and compliance.
Citigroup Inc (NYSE:C) will cut around 3,500 jobs at its technology hubs in Shanghai and Dalian as part of a broader effort to streamline global operations and strengthen risk and data management. The reductions, affecting mainly full-time roles, are expected to be completed by early Q4 2025.
In the latest trading session, Citigroup (C) closed at $76.40, marking a -0.17% move from the previous day.
Citigroup's sweeping business overhaul, including job cuts, market exits and management streamlining, targets $2.5B in annual savings by 2026.
Citigroup said on Tuesday it was dropping a 2018 policy that placed restrictions on offering banking services to retail clients selling firearms.
In the closing of the recent trading day, Citigroup (C) stood at $75.53, denoting a +0.67% change from the preceding trading day.
Can BAC's branch expansion efforts provide an edge over C's focus on expense control and business streamlining initiatives? Let us find out.
Citigroup (C) concluded the recent trading session at $75.03, signifying a -0.58% move from its prior day's close.
C's arm announces a deal to transfer Polish consumer banking unit to VeloBank, aligning with its global retail exit strategy.
Citi Handlowy, a Polish banking business that is majority-owned by a Citigroup subsidiary, plans to sell its consumer banking business to VeloBank S.A., a Poland-based universal bank.
We initiate coverage on Citigroup Inc. with a Buy rating, driven by our conviction that the company's transformation will generate outsized EPS growth and risk-adjusted returns. Citi's disciplined expense management, segment momentum, and aggressive $20B buyback underpin my view that the Street underestimates its earnings power. Valuation at 9.5x FY26E P/E is conservative versus peers, balancing Citi's earnings trajectory with ongoing regulatory and macro risks.
C launches AI-powered tools in Hong Kong to streamline internal operations and improve efficiency.