Citigroup now employs about 1880 people in Delaware.(source: NJ) I’m sure they are all high-fiving each other today. This is great news.
Citigroup said Friday morning that it lost $2.5 billion, or 54 cents a share, in the second quarter.
But the chief executive, Vikram Pandit, positioned the $2.5 billion loss as progress. Last quarter, the financial conglomerate lost $5.1 billion.
“We cut our second-quarter losses in half compared to the first quarter,” Mr. Pandit said in a statement. “While there is still much to do, we are encouraged by our progress.” – via Eschaton
At this rate they will only lose $1.25 billion next quarter! Awesome!!