Citigroup to cut more than 52,000 jobs
November 18th, 2008 Leave a comment Visited 24 times, 1 so far today
Citigroup to cut more than 52,000 jobs
Citigroup has announced a major job cut in their operations. The company is going to cut more than 52,000 jobs in the coming months.
The financial institution is aiming to reduce expenses by 20 per cent in 2009.
The company added that they are aiming to reduce the total head count to less than 3,00,000 in the near term.
They had around 3,52,000 employees at the end of third quarter this year.
Citigroup had posted losses of USD 2.8 billion in the third quarter of the year.
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