Citigroup Job Cuts Aimed at Pleasing Shareholders

Citigroup, the world's largest financial services company, says it will eliminate about five percent of its workforce. That's about 17,000 jobs.

It's part of an effort to increase profits and appease shareholders, who have been unhappy about the company's financial performance. Citigroup projects savings of $9 billion over three years from the reorganization.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

Support comes from: