• Business model as medicine

    Revisiting your business model is a useful way to revive your business, says Ian Mann.

  • No sugar-coated pill

    The cost of uninformed medical consent runs into billions, says Mandi Smallhorne.

  • Greek tragedy

    Athens' relations with the EU was an accident waiting to happen, says Leopold Scholtz.

Loading...
See More

Citigroup to cut 11 000 jobs

Dec 05 2012 16:37 Reuters

Related Articles

Citigroup boss quits in shock move

Citigroup to pay $590m for investor suit

Citi profit falls in second quarter

Citigroup profits beat forecasts

Citigroup, UBS accused of rate manipulation

 
Citigroup will eliminate 11 000 jobs worldwide, about 4% of its total staff, in a move to save as much as $1.1bn a year in expenses, the company said on Wednesday.

The move will initially result in pre-tax charges of $1bn to fourth quarter earnings, the company said in a statement.

It is the first major action to restructure the company since directors named Michael Corbat chief executive officer in October after becoming impatient with former CEO Vikram Pandit.
citigroup  |  job cuts

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Fin24 has teamed up with Ian Mann, ace business book reviewer and author of the best-selling book “Managing with Intent,” to host the second Best Business Books Breakfast of the year where Ian will show you how to lead and attract.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Facebook as a tool for small business is:

Previous results · Suggest a vote

Loading...