Citigroup set to cut about 3,000 jobs ? report

Citigroup is preparing to cut about 3,000 jobs, or 1 percent of its global work force, according to a report in the New York Times.

The bank has already notified some employees who will lose their jobs in the coming months, the newspaper said.

The Times said Citigroup has not yet decided on a final number for the layoffs, which could exceed 3,000. About a third of the cuts will come from the bank?s securities and banking unit, the newspaper reported, adding that the layoffs could take place throughout the next year.

Source: http://bottomline.msnbc.msn.com/_news/2011/11/16/8837409-citigroup-set-to-cut-about-3000-jobs-report-says

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