Citigroup will reduced workforce by 17,000 to 24,000 employees, and it will take writedown of up to $24 billion, CNBC says.
Citigroup is one of the world’s leading financial services companies, with operations in more than 160 countries, and more than 200 million customer accounts. Founded in 1812 in New York, Citigroup has grown to become a major monetary force across the globe.
By offering private banking services for individuals, as well as a range of investment products for corporations and investors, Citigroup caters to clients from all walks of life who rely on its wise portfolio management options.
It also offers loans and mortgages for those who want to purchase homes and other big-ticket items. The company experienced significant success throughout the 20th century and continues to be a powerful presence in the 21st century global financial markets.
- I am a financial services writer with experience in forex trading and stock market analysis.
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