Labor & Economic News Blog
Monday, November 17, 2008
Citigroup To Shed 50,000 More Jobs
Citigroup To Shed 50,000 More JobsNPR audio
The financial meltdown continues to take a toll on some of the nation's big banks. Citigroup announced on its Web site Monday that it is cutting at least 50,000 jobs. CEO Vikram Pandit said the cuts will come from both direct layoffs and the sale of business units. Citigroup has already cut 22,000 jobs this year.
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