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The ax is chopping at Citigroup
The Wall Street Journal reports that Citigroup is planning major layoffs from its investment banking group. About 6,500 people stand to lose their jobs, and some may get their pink slips as early as today. On Thursday, the bank warned that there would be more "substantial" write-downs on the way for the second quarter. Citigroup shares dipped by almost $2 last week.
Posted on June 23, 2008 5:43 AM PT | Permalink
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