In January, banking giant Citigroup announced 4,200 job cuts. However, the bank had more announcements to make this Friday: it plans to cut an additional 9,000 jobs within the next 12 months. Citigroup�s new chief executive, Vikram S. Pandit, who is attempting to �clean up the mortgage mess,� said, �We are not happy with our financial results this quarter, although they are not completely unexpected given the assets we hold.�

Citigroup’s restructuring plans, the bank has announced, will cost $622 million. 2,000 of the 9,000 job cuts will be in the investment banking unit, while other cuts may happen in the legal and technology sectors.

+ View Archives

Trying to find jobs at Citigroup, Inc? Click here.

If this article has helped you in some way, will you say thanks by sharing it through a share, like, a link, or an email to someone you think would appreciate the reference.

Popular tags:

bank mortgages costs plans Citigroup financial results investment banks Vikram S. Pandit chief executives