Citigroup: 20,000 Job Cuts Big Step Towards Richer Earnings And Investor Payouts

Spencer PlattCitigroup (NYSE:C) reported earnings for the December quarter on 12th January, and surprised investors with quite a few notable insights: On the negative, the U.S. bank reported a worse-than-expected topline and a disappointing $1.8 billion loss. On the positive, the loss was mostly driven by restructuring charges and other non-operating costs. In fact, Citi management shared ambitions to accelerate the multi-year restructuring efforts, announcing a projected 20,000 job cuts. Following the  ...