Citigroup plans to cut $1 billion in costs in its consumer business by year's end

Article Abstract:

The consumer business unit of Citigroup has had the best financial picture of all of it's units, and profit for the year is anticipated to show growth of about 10%; nevertheless, it is in this unit where cost-cutting measures will cut a little deeper. Savings are wanted beyond what was announced in December after the merger. Now the savings target is $1 billion, about $300 million of it coming from managers' penny-pinching, and perhaps more job cuts. Penny-pinching is seen as possible in the areas of travel expenses and cell-phone use, for examples.

Comment:

Cost-cutting to cut deeper than first announced

Strategy & planning, Commercial Bank Retail Svcs, Banking industry, Commercial banks, Management, Retail banking, Citigroup Inc., C

---

Visa touts ease of shopping on Internet

Article Abstract:

Visa U.S.A. and its agency BBDO New York have come up with a television ad that will promote the ease of using a Visa credit card to shop for the holidays online. This just when the Justice Dept. claims that Visa and MasterCard stymie credit-card innovations. Visa says the timing of the government suit and its new ad campaign is just coincidence. The company plans to spend about $25 million on e-commerce promotions over the next year.

Marketing procedures, Bank Credit Cards, Television, New Electronic Marketing, Advertising Activity, Account Activity, Promotion, Marketing, Advertising, Credit and debit card industry, Credit card industry, Visa U.S.A. Inc., BBDO New York

---

Similar abstracts:

• Abstracts: Glitches trip up real-life test of plastic cash. Citigroup picks mainly Travelers' aides for top posts at U.S. consumer units
• Abstracts: After three-month recess, Microsoft trial resumes. Intuit's chief urges division of Microsoft; calls for restrictions on using Windows to promote other products
• Abstracts: Las Vegas will shift its promotional strategy to emphasize entertainment as well as gambling
• Abstracts: Visa, MasterCard named in antitrust suit. Spurning Visa, Citigroup turns to MasterCard. American Express sues Chase over ads
• Abstracts: Lycos, amassing sites and surfers, aims higher. USA Networks to merge with Lycos

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.