Citigroup Cuts Cost by Eliminating 11,000 Jobs & 1 Billion Charge

12/05/2012 5:14 pm Filed Under: Business by

Shares of Citigroup Inc (NYSE: C) jumped over 6% on Wednesday after the bank announced it would lay off 11,000 workers or about 4% of its total workforce. Additionally in the statement, the bank said it had to pay a pretax of $1.1 billion this quarter due to the layoffs. This … [Read more...]

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