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Largest Bank Cuts Even More
More job cuts are coming to the world's largest bank.
Citigroup will reduce its worldwide workforce in its banking and markets operation by 1,800. The biggest cut, according to Citigroup spokesman Adam Castellani, may take place in its institutional clients group. And in London there's been no word yet on how many jobs will be cut of its 11,500 employees.
The bank has announced a total of 21,200 job cuts in the past year out of its 320,000-employee workforce. It reported a $9.83 billion loss in the fourth quarter of 2007.
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Citigroup will reduce its worldwide workforce in its banking and markets operation by 1,800. The biggest cut, according to Citigroup spokesman Adam Castellani, may take place in its institutional clients group. And in London there's been no word yet on how many jobs will be cut of its 11,500 employees.
The bank has announced a total of 21,200 job cuts in the past year out of its 320,000-employee workforce. It reported a $9.83 billion loss in the fourth quarter of 2007.
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