Citigroup Announces a Cut of 11,000 Jobs
NEW YORK (AP) – Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4 percent of Citi’s workforce of 262,000.
The bulk of the cuts, about 6,200, will come from Citi’s consumer banking unit, which handles everyday functions like branches and checking accounts.
