Monday, Nov 17, 2008
Wow
BBC News: Citigroup set to cut 75,000 jobs
Citigroup set to cut 75,000 jobs
Breaking News
US bank Citigroup has announced plans for up to 75,000 job cuts, up from a previously announced total of 23,000.
Citigroup said in a statement that the cuts represented a reduction of about 20% of its staff, leaving the bank with 300,000 jobs worldwide.
The cuts will come from redundancies, the sale of units and natural wastage, the bank said.
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