• The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

  • Web of dependency

    Zupta defenders are playing cat and mouse with ratings agencies, says Solly Moeng.

All data is delayed
Loading...
See More

Citigroup to cut 11 000 jobs

Dec 05 2012 16:37
Reuters
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
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

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

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote

Loading...