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Citigroup expected to cut 10 percent of jobs

Business Materials 14 November 2008 23:02 (UTC +04:00)

Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) is expected to soon announce job cuts amounting to about 10 percent of the company's workforce, a person familiar with the matter said on Friday, Reuters reported.

Citigroup had 352,000 employees at the end of September. Job cuts will come through measures including layoffs and selling units, the person said.

Citigroup is planning a town hall meeting for employees on Monday, the person said.

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