"Warren Buffett Encourages Citigroup CEO to Persist with Overhaul Amid Layoffs"
TL;DR Summary
Citigroup CEO Jane Fraser discussed her bank's reorganization efforts with Warren Buffett, who encouraged her to continue with the overhaul. Fraser is leading Citi's significant revamp to simplify the bank and boost profits, with Buffett's Berkshire Hathaway having made a $3 billion bet on Citi in 2022. The reorganization includes eliminating leadership roles, and Fraser indicated that more details about the next round of changes would be shared soon.
- Warren Buffett tells Citigroup CEO Fraser to keep going with overhaul -source Reuters
- Warren Buffett Tells Citi CEO to Continue Overhaul, Reuters Says Bloomberg
- Citigroup expected to cut more jobs in Tampa with latest layoff announcement - Tampa Bay Business Journal The Business Journals
- Citigroup lays off more bosses as CEO Fraser addresses managing directors -sources Reuters
- Now Citi cut MDs from its US FX team eFinancialCareers
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