Citigroup to shed $500B in assets
May 9th, 2008Some might say “ouch” over a 23% reduction in size. But shedding non-core and/or underperforming assets is part of Turnaround 101. I wouldn’t be surprised if CEO Vikram Pandit’s plan works.
Shrinking isn’t necessarily bad.
UPDATE: Forbes - “The bank’s new chief begins the slow, painful job of undoing his predecessor’s work.”
No pain, no gain?
Posted in Office on Friday, May 9th, 2008 at 8:07 am
| Tags: Citigroup, Vikram Pandit
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