{"id":4924,"date":"2024-01-13T11:49:29","date_gmt":"2024-01-13T09:49:29","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=4924"},"modified":"2024-01-13T11:49:29","modified_gmt":"2024-01-13T09:49:29","slug":"citi-to-cut-20000-jobs-posts-1-8-billion-loss-in-disappointing-quarter","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=4924","title":{"rendered":"Citi to cut 20,000 jobs, posts $1.8 billion loss in &#8216;disappointing&#8217; quarter"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">Citigroup said it will cut 20,000 jobs over the next two years, acknowledging a &#8220;clearly disappointing&#8221; quarter marred by one-off charges that led to a $1.8 billion loss.<\/p>\n<p>The lender plans to reduce its global workforce by 20,000 employees, or about 8% of its total workforce, by 2026.<\/p>\n<p>And the loss resulted from a $3.8 billion charge, which was disclosed on Wednesday.<\/p>\n<p>This charge includes reorganization costs, a provision related to currency devaluation and instability in Argentina and operations in Russia, and a $1.7 billion payment to replenish a government deposit insurance fund.<\/p>\n<p>The bank anticipates that its charges related to layoffs and reorganization will be between $700 million and $1 billion this year.<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Citigroup said it will cut 20,000 jobs over the next two years, acknowledging a &#8220;clearly disappointing&#8221; quarter marred by one-off charges that led to a $1.8 billion loss. The lender plans to reduce its global workforce by 20,000 employees, or about 8% of its total workforce, by 2026. And the loss resulted from a $3.8 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4924"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4924\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/4925"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}