Citigroup: We're Cutting 11K Jobs

Bank says move will save $900M in 2013
By Newser Editors and Wire Services
Posted Dec 5, 2012 8:48 AM CST

(Newser) – Citigroup says it will eliminate more than 11,000 jobs in an effort to cut expenses and improve efficiency. The cuts will result in about $1 billion in charges in the fourth quarter and about $100 million in charges during the first half of next year, the company said today. It expects about $900 million in savings in 2013 from the move, and annual savings of more than $1.1 billion starting in 2014. (Read more Citigroup stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.