The job cuts at Citigroup are more a result of company-specific problems rather than the signal of a trend in the banking sector, one City analyst said.
Kean Marden, of Kaupthing Singer and Friedlander, said that the planned 17,000 cuts at the bank were what is known as "stock specific" — related to a particular company, rather than being indicative of any wider problem.
Marden said
Kean Marden, of Kaupthing Singer and Friedlander, said that the planned 17,000 cuts at the bank were what is known as "stock specific" — related to a particular company, rather than being indicative of any wider problem.
Marden said