Wells Fargo , Bank of America and Citigroup reduced their workforces by a combined 17,700 last year, the banking giants reported in their fourth-quarter earnings on Friday.

Breaking down big bank earnings

01:40pm, Friday, 12'th Jan 2024
The Investment Committee breaks down the significant bank earnings and picks their favorite name in the sector.
Citigroup plans to slash 20,000 jobs over the next two years after the struggling bank reported its worst fourth-quarter earnings in 15 years Friday.

Banks Can't Count on Loans For Growth

12:06pm, Friday, 12'th Jan 2024
As interest rates fall, growing loans is getting more important, but also trickier.
Many of today's PPI metrics clearly point to low-growth elements within the wholesale market.
While the top- and bottom-line numbers for Citigroup (C) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare
JPMorgan Chase posts record annual profit as earnings season gets under way

Citigroup Plans to Cut 20,000 Jobs

10:53am, Friday, 12'th Jan 2024
The cuts will amount to about 10% of the bank's workforce, excluding the Mexico business.

Citigroup to lay off 10% of its employees

10:51am, Friday, 12'th Jan 2024
Citigroup Inc (NYSE: C) just announced plans of lowering its global headcount by 10%. Its shares are paring back intraday gains at writing.
Baird's David George and CFRA's Ken Leon join 'Squawk on the Street' to discuss how investors should be positioning in big banks.
Citigroup CEO Jane Fraser announced one of the largest moves to cut headcount at a major U.S. bank in recent years.
CNBC's Leslie Picker joins 'Squawk Box' to discuss the bank's quarterly earnings results.
Citigroup (C) swung to a loss of $1.8 billion or $1.16 per share in the fourth quarter as additional charges weighed on its results. Citi shares rose 2.5% in pre-market trading.
Citigroup missed estimates on revenue in the fourth quarter. CEO Jane Fraser says it was a very disappointing quarter.
Citigroup Inc (NYSE:C) swung to a fourth-quarter loss after it booked several extraordinary charges and hiked its reserves due to its non-US exposures. The banking group reported a 3.3% decline in rev
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