Bloomberg – Citigroup Inc. Chief Executive Officer Vikram Pandit said the bank will cut about 4,500 jobs in coming quarters as he seeks to trim costs amid slumping revenue.
Citigroup will take a charge of about $400 million in the fourth quarter tied to the job reductions, including severance, Pandit said today during an investor conference in New York. Citigroup employed about 267,000 people at the end of the third quarter, according to a quarterly filing.
