Mumbai, January 12:슬롯 머신 사이트 추천Citigroup is likely to cut jobs in 2024 as part of Chief Executive Officer Jane Fraser's bid to boost the Wall Street giant's returns, as per a report. The New York City-headquartered firm said that it expects to incur as much as USD 1 billion in severance and reorganisation costs. These costs would be incurred as part of the company's process to eliminate 20,000 jobs.

According to a report published by the , the US banking giant said it expected to let go 20,000 employees in the 슬롯사이트œmedium term슬롯사이트� as it reported its worst quarter for 15 years.슬롯 머신 사이트 추천The firm expects to lower its annual costs to between USD슬롯 머신 사이트 추천51 billion and USD 53 billion in the medium term, down from USD슬롯 머신 사이트 추천53.5 billion to USD슬롯 머신 사이트 추천53.8 billion this year and USD슬롯 머신 사이트 추천56.4 billion last year.슬롯 머신 사이트 추천Meta Layoffs 2024: Mark Zuckerberg-Run Company Lays Off Technical Programme Managers at Instagram, 60 Such Jobs Being Consolidated or Eliminated, Say Reports.

The bank reported a USD슬롯 머신 사이트 추천1.8 billion loss in the fourth quarter, hurt by a 25% drop in revenue from its fixed-income trading business and a $1.7 billion charge to replenish the FDIC fund after some bank failures. Fraser called the quarter 슬롯사이트œvery disappointing슬롯사이트� and said 2024 will be a 슬롯사이트œturning point슬롯사이트� for the bank. Pixar Layoffs: Disney-Owned Animation Studio Likely To Lay Off 20% Workforce in 2024, Says Report.

Fraser launched the largest overhaul of Citigroup in decades in September, aiming to streamline the bank from 13 to eight management layers and improve its return on tangible common equity to at least 11% by 2027.

(The above story first appeared on LatestLY on Jan 12, 2024 08:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).