Crittenden said the new round of layoffs will come on top of the 4,200 job cuts that Citi made in the last quarter, Crittenden said during the
"We're focused on expense management," Crittenden said.
One day ago, the Financial Times published an interview with Citi's Chief Executive Vikram Pandit in which he said the bank could cut its expense base by as much as 20%, which suggests that more rounds of job cuts could be in the offing throughout 2008.
Citi announced on Friday that it lost
Citi shares recently were up 6% to
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(END) Dow Jones Newswires
04-18-08 0953ET
Copyright (c) 2008 Dow Jones & Company, Inc.
Source: http://money.cnn.com/news/newsfeeds/articles/djf500/200804180953DOWJONESDJONLINE000717_FORTUNE5.htm
