Citigroup to cut 11,000 jobs
- Published: 5 Dec 2012 at 21.47
- Online news: World
Citigroup announced Wednesday that it would cut more than 11,000 jobs in a move boost efficiency, with most of the cuts in its global consumer banking division.
File picture shows pedestrians walking by the Citigroup Center in San Francisco, California in July 2012. Citigroup announced Wednesday that it would cut 11,000 jobs in a move boost efficiency, with most of the cuts in its global consumer banking division.
"Due to this repositioning, Citi expects to record pre-tax charges of approximately $1 billion in the fourth quarter of 2012 and approximately $100 million of related charges in the first half of 2013," the company said.
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