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Citigroup Cuts 17,000 Jobs

Investors demanded downsizing; now the pressure's on raising revenue

By Sam Gale Rosen,  Newser Staff

Posted Apr 12, 2007 9:47 AM CDT

(Newser) – Citigroup will cut 17,000 jobs in an attempt to close the gap between its revenue, up 7% last year, and its expenses, up 15%. The two-year cost-cutting plan comes after shareholders demanded major changes, but analysts agree that lowering expenses is only the first...   Read full story »

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