https://www.reuters.com/business/finance/citis-london-office-overhaul-costs-hit-15-billion-2025-09-14
5 replies (most recent on top)
Good view of the thames
Investments in real estate are profitable to businesses. The new building being built in Charlotte is a good example. The state of NC has offered Citi a grant which will yield a massive sum of money. Never mind the various tax shelters etc. It doesn't matter that there could be several large office buildings empty Citi could use, shiny new distractions look good for politicians. The typical answer to anything is usually because there is a buck (or pound) to be made.
Wow, this is shocking considering the penny pinching goes on various programs - both mandatory and strategic. Is this another reason, employees get 1% raise? Whereas CEO gets significant higher raise and fat bonus?
Having said that, I shouldn't be shocked on St... of management and board members who agree with them - considering that business hasn't grown meaningfully in last many years other than the cost cutting.
Why would someone down vote this post? It's an excessive amount of spending for a building. Not to mention laying off people and then spending 1.5B. Read the article.
I agree with you @ah+1k5c548s4. It still doesn't look like much at all.
Citi's LDN office still looks like sh-t though :D I cannot wait for the buckets at the entrance this year :D