Citigroup to Cut More Than 11,000 Jobs

Wednesday, December 5th, 2012 and is filed under Economy, News

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Three cheers for Dodd-Frank!

Citigroup said it will eliminate more than 11,000 jobs. The company said the cuts will result in about $1 billion in charges in the fourth quarter and about $100 million in charges during the first half of next year. It expects about $900 million in expense savings in 2013 and annual expense savings of more than $1.1 billion starting in 2014. (WSJ)