Citigroup To Eliminate 52,000 Jobs

Citigroup Inc. plans to cut 52,000 jobs over the next year, the company recently announced at a meeting.

The staff reductions include 9,100 jobs the firm began eliminating last month, as well as 16,900 positions announced at the meeting and an additional 26,000 jobs in asset sales, Bloomberg reports. The eliminated jobs represent 15% of the company's workforce.

Source: Bloomberg

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