Citi Said To Plan 15,000 Job Cuts

Seeking to boost its share price and profitability, Citigroup may eliminate roughly 15,000 jobs, or 5% of its work force across the globe, according to a Monday report by the Wall Street Journal.

Citi did not return a phone call seeking comment on the report.

The plan, which is reportedly being spearheaded by Robert Druskin, the company's chief operating officer, has not been finalized. Yet the Journal said Druskin is supposed to report his recommendations by the end of the week and that the final plan will be announced on April 16.

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- Posted: 2007-03-26 11:25:03

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