Citi says Consumer unit may see more than $1.5B in cost cuts

Goldman is looking to grow its consumer and wealth businesses. It's also laid out cost cuts that envision moving more workers to low-cost cities. Goldman Sachs CEO David Solomon. Getty Images Goldman Sachs has been going through .....»»

Shares of Southwest Airlines Co. were indicated down over 1% in premarket trading Thursday, after the air carrier cut its guidance for first-quarter unit revenue, citi.....»»

Months of job increases could be reversed quickly if industries such as retail, travel and consumer goods suffer a drop in demand. The remedy to a fall-off in revenue is usually cost cuts, and often........»»

JPMorgan Chase plans to dismiss several hundred workers from its consumer unit as the lender seeks to , according to people briefed on the matter. The bank intends to notify affected employees on... To view the full story, click the title link......»»

Job cuts could be in the works as JPMorgan Chase looks to cut costs. Bloomberg reports that the bank is planning to cut "several hundred" workers from its consumer unit, which houses the deposit, credit card, home loan and auto lending businesses.....»»

Volkswagen's namesake core brand is on track to post a record operating profit this year thanks to cost savings and its increased sales of sports utility vehicles (SUV's), a senior manager of the unit said......»»

Thyssenkrupp's elevator unit, which has been put up for sale by the ailing conglomerate, aims to improve its profitability through cost cuts, more efficient factories and a higher share of lucrative service contracts, it said on Wednesday......»»

Talks with labor representatives on cutting costs at Volkswagen's luxury car unit Audi are making progress, an Audi spokesman said on Tuesday......»»

Daimler on Thursday announced cost cuts as it reduced its revenue outlook for Mercedes-Benz trucks unit and reported a slight rise in third-quarter operating profit......»»

Daimler on Thursday announced cost cuts as it reduced its revenue outlook for Mercedes-Benz trucks unit and reported an 8% drop in third-quarter operating profit......»»

Halliburton Co on Monday beat analysts' estimates for second-quarter profit as its largest oil-well services unit exceeded expectations, putting the company's shares on track for the biggest one-day gain in nearly three years......»»

Halliburton Co on Monday beat analysts' estimates for second-quarter profit as its Completions and Production unit outperformed expectations, pushing its shares up 6.8 percent in early trading......»»

An unexpected bounce in bond trading wasn’t enough to counter a lack of growth in Citigroup Inc.’s sprawling consumer division......»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Consumer goods companies like General Mills have been raising product prices to make up for rising commodities and transportation costs......»»

Larry French/AP Citigroup is shaking up its $33 billion consumer banking unit. The bank announced Monday several changes in the top rungs of management within its Global Consumer Banking division in an effort to "align our structure with our strategy," St.....»»

With Goldman Sachs cutting its price target on Apple shares for the third time this month while the consumer-tech giant's shares sink into bear-market territory, more signs of.....»»

Cost cuts and closing a unit where Credit Suisse had parked underperforming assets will help boost return on tangible equity (ROTE) to at least 10 percent in 2019, Chairman Urs Rohner said in an interview published on Saturday......»»

Wells Fargo & Co on Tuesday said its loan book shrank and quarterly revenue fell in all of its major businesses, especially consumer banking, sending its shares lower......»»

Wells Fargo & Co's loan book shrank and revenue fell across all its major businesses last quarter, as the fourth-largest U.S. lender continued to work through the consequences of wayward sales practices at its consumer bank......»»