Citigroup To Cut 50,000 Jobs
“Citigroup Inc revealed plans to cut 52,000 jobs by early next year in a dramatic move to restore the No. 2 U.S. bank to health as it combats mounting debt losses and sagging economies worldwide. The reductions announced on Monday by Chief Executive Vikram Pandit will affect 15 percent of Citigroup’s work force, and are in addition to 23,000 jobs eliminated between January and September.” [Link]
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