Data provided by McGregor BFA
All data is delayed
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

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Solidarity urges members to vote

The Solidarity Movement has urged its members and supporters to vote in the 7 May general election.

 
 

Latest elections multimedia

11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille
The EFF's ad was banned, see why
Why Jack Parow wants you to vote on 7 May

Money Clinic

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