Warren Buffett told Citigroup Chief Executive Jane Fraser over lunch to keep going in her massive cost-cutting corporate restructuring campaign, Reuters reported Friday.
Fraser told the anecdote of the business magnates approval at the end of a conference call with managing directors on Thursday, in which she detailed the coming reductions to the bank’s headcount, a source who was on the call told the outlet.
Buffett’s investment conglomerate Berkshire Hathaway bought $2.5 billion in Citi shares in the first quarter 2022, despite its laggard status, making it the company’s 16th largest holding at the time. Berkshire still held the position as of last fall, according to the firm’s most recent holdings disclosure to the Securities and E…
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