Citi’s 4th quarter may be a loss. It is a reflection of how poorly the company and reorg/cuts have been managed. Execs make millions each while workers are wondering if they will have a job to pay bills. Wish that the board would do their oversight duty and appoint a new leader with real experience. https://www.reuters.com/business/citigroup-report-780-million-restructuring-charges-13-bln-reserve-build-2024-01-10/
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@nbg+1qwIbC8o Earning call is tomorrow not next week. It occurs 1/2/2024 @ 12:00 Eastern Time.
It’s not last minute. The earnings call is next week. CFO always send out a message in line with what will be talked about on call to the entire market: employees, shareholders, and news outlets.
I saw that e-mail. It was bizarre. I think it was a pathetic attempt to empathize with the employees and justify the reasoning for everything happening. As in typical Citi fashion, it just creates more confusion.
No Bora Bora!
Don't think it has to do with the timing of the layoffs. Either way the layoffs will be done. So the next few weeks in January there will be cuts.
Plus their Q4 earnings is not good which they already had expected