Citigroup plans to cut costs by $1 billion
Citigroup plans to cut costs by $1 billionCitigroup, trailing its rivals in profit growth, plans to cut $1 billion in costs this year, Bloomberg reports, citing a source with direct knowledge of the plan. The cost-cutting measures will involve eliminating some jobs, moving others to less expensive locations and overhauling the risk-management unit.
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Is this the beginning of a cost cutting wave on Wall Street? Feast or Famine.
Take a look at the new hiring trends on Wall Street.
HR, jobs, derivatives, trading, risk management
Labels: careers, citigroup, cost cutting, derivatives, electronic trading, hiring, hr, jobs, layoffs, reorg, risk management, trading
posted by Victor Lloyd Smith @ 5:12 PM
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