Citigroup announces mass layoffs ...News

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Citigroup announces mass layoffs
The banking giant has reported its worst quarter in 15 years The US banking giant Citigroup has announced plans to cut up to 20,000 jobs after reporting a steep quarterly loss of $1.8 billion for the last three months of 2023 – its worst in 15 years. The multinational said on Friday that the disappointing result was due to $4 billion of charges and expenses, including $800 million related to restructuring, a retreat from Russia, and the devaluation of Argentina’s peso. Citigroup announced plans to wind down its business in Russia in August 2022. The assets of its Russian unit at the time amounted to around $10 bil

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