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“Citigroup* shareholders increased the salary of bank CEO Jane Fraser by 6% (to $26 million per year).
At the same time, Citi's profit in 2023 fell by 40%.
For October-December 2023, the bank suffered losses of $1.8 billion.
In this regard, Fraser promised to lay off 20,000 employees to urgently correct the balance."
Footnote.
* Citigroup is a financial conglomerate in the United States, one of the largest in the world.
The basis of the conglomerate is Citibank, founded in 1812.
Citigroup was formed on April 7, 1998, as a result of the merger of Citicorp and Travelers Group.
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