Citigroup Cutting 11,000 Jobs to Save $1 Billion a Year

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Citibank—once the biggest thing of its kind in the world—has new leadership. But the recession is still taking its toll. Today, it announced it’s closing branches around the world, scaling back consumer lending in developing countries—and cutting 11,000 jobs.

Credits

Guest:

  • Matthias Rieker - Banking reporter for Dow Jones Newswires and The Wall Street Journal

Host:

Warren Olney

Producers:

Frances Anderton, Anna Scott, Lata Pandya