Citigroup to cut jobs
Stock of Citigroup (NYSE: C) closed down $0.18 to $51.54, after reporting that it is looking to cut 15,000 jobs, as part of a broader restructuring plan that could cost the bank $1 billion. This cut would represent about a 5% reduction in Citigroup's worldwide work force of 327,000. Some of the reduction could be achieved by not filling positions opened through normal attrition.
