New chief executive Vikram Pandit is preparing a radical shake-up to cut costs in the face of a
fresh $18.7bn write-off
Citigroup, the world’s largest financial services group, is believed to be
planning to axe up to 10 per cent of its workforce in a bid to stem rising
The bank is expected to make an announcement about the job cuts — which could
see as many as 32,000 people made redundant — when it unveils its full year
figures on January 15.
Source: Times Online