Citigroup to axe 53,000 additional jobs - 75,000 jobs to go from December 2007 peak
Nov 17th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Citigroup today said it plans to axe about 53,000 more jobs in the coming quarters as the financial services giant struggles to recover from huge subprime related losses. The company said total headcount is being reduced by 20% from its peak of 375,000 at the end of 2007; The company had already announced in October that it was eliminating about 22,000 jobs from those levels.