Citi CEO Says Bank Identified ~1,000 Or 50% Of Internal Financial Management Reports That Will Not Be Needed After Reorganization; Next Round Of Reorganization Changes To Happen In Mid-November
Portfolio Pulse from Benzinga Newsdesk
Citi CEO announced that the bank has identified approximately 1,000 or 50% of internal financial management reports that will not be needed after reorganization. The next round of reorganization changes is expected to happen in mid-November.
October 13, 2023 | 3:18 pm
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Citi's reorganization plan, which includes eliminating 50% of internal financial reports, may streamline operations and reduce costs. The next phase is due in mid-November.
The elimination of unnecessary internal reports can lead to cost savings and more efficient operations, which could positively impact Citi's financial performance. However, the full impact will depend on the successful implementation of the reorganization plan.
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