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CITIGROUP RESTRUCTURING PLAN
Citigroup set to cut 1,000 jobs this week as CEO pushes 20,000-role global overhaul — is Jane Fraser’s restructuring strategy aimed at lifting Citi earnings?Citigroup will cut about 1,000 jobs this week as part of a 20,000-role global restructuring. CEO Jane Fraser aims to streamline operations,...- Citigroup cuts hundreds of jobs, including in investment banking and mortgage unitsThe cuts amount to less than 1% of Citigroup’s 240,000-person workforce, according to people familiar with the matter, who asked not to be ...
- Citi's $900-mn Revlon 'blunder' may get more painfulThe cosmetic giant filed for Chapter 11 bankruptcy protection recently.
- Axis Bank set to buy Citigroup’s $2.5 billion India retail unitAn agreement for the consumer unit may be announced as soon as the next few weeks and is contingent on approval from the Reserve Bank of In...
- Tata Consultancy in talks to buy Deutsche Bank’s technology unitThe bank has set 2022 as the deadline for the technology migration of Postbank’s systems. Deutsche Bank is an existing customer of TCS and ...
- Polaris Financial Technology may hive off IT services businessPolaris would seek at least $450 million (over Rs 2,470 crore) for the IT services unit, with operating profit of around $45 million.
- Brokerages turn positive on Marico on restructuring plansAnalysts at brokerage firms are of the view that the restructuring plan is positive for Marico and will result in value creation for shareh...
- Vikram Pandit steps down as CEO of Citigroup, Michael Corbat to replace himMichael Corbat, previously chief executive for Europe, Middle East and Africa, was named to replace Pandit. The COO of the group has also r...
- Brokers’ Call: Power stocks, iron output, JSPLMorgan Stanley on Tuesday said that the proposed restructuring package for 7 SEBs may lift sentiment in the power sector especially for sto...
- Brokers’ call: DB Corp, Crompton, Pipavav DefenceCitigroup has resumed coverage on DB Corp by maintaining a ‘Buy’ and marginally raising the target price to Rs 230.
- Citigroup plans 40 pc asset cut: Vikram PanditCitigroup plans to reduce its assets by 40% as it undergoes a sweeping restructuring, chief executive Vikram Pandit said. Citigroup | Finan...
- Citigroup sells stake in Japanese asset managerCitigroup Inc says it is selling its majority stake in a Japanese asset management company to The Sumitomo Trust and Banking Co Ltd. for $7...
- Sumitomo Mitsui, Citigroup reach deal on brokerageSumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said on Friday, as part of a plan to restructure the stru...
- US govt likely to boost Citigroup stake to 40%Citigroup Inc is in talks that could see the US government take a bigger stake, a source said, sparking a recovery in the battered share pr...
- Citi posts $8.29 bn loss, splits up companyUS govt has lent Citi $45 bn & agreed to backstop losses on $300 bn in mortgages. Gainers: BSE ( A, B ) | NSE | Losers: BSE ( A, B ) | NSE ...
- Citigroup aims to sell $400 bn in assetsCitigroup, the largest US bank plans to shed $400 billion of assets within three years and boost revenue by up to 10%.
- Citigroup to form China investment bank ventureCitigroup Inc and Central China Securities will soon apply to Chinese regulators to set up an investment banking joint venture, two sources...
- Citi to pay cap gains tax on BPO share rejigCitigroup Inc, the world’s largest US-based financial services company, has restructured the shareholding of its Indian BPO arm ahead of it...
- Citi staff send out resumes, hunt for jobsThe job cuts have come at a time when Citi is likely to move a few thousand jobs from their centres to India.
- Citigroup to ramp up India headcountCitigroup will move 9,500 positions to India and other low-cost sites as it cuts 17,000 jobs globally.
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