Citigroup poised to axe up to 32,000 jobs

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
losses.

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

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