Michael Corbat

(file / credit: Justin Sullivan/Getty Images)

Citigroup To Cut More Than 11,000 Jobs

Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4 percent of Citi’s workforce of 262,000.


Citigroup CEO Vikram Pandit on the floor of the New York Stock Exchange - June 18, 2012 (credit: Spencer Platt/Getty Images)

Citigroup CEO Vikram Pandit Announces Immediate Resignation

Vikram Pandit abruptly stepped down as CEO of Citigroup on Tuesday, surprising Wall Street, after steering the bank through the 2008 financial crisis and the choppy years that followed.