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Posted by: STONERS 11 months, 3 weeks ago
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STONERS11 months, 3 weeks ago
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"The company said it is shrinking its work force by 20 percent from its 2007 peak of 375,000. The company had already announced in October that it was eliminating about 22,000 jobs from that level."
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"About half of the expected work force reductions will come from business sales; Citigroup already announced that it was selling Citi Global Services and its German retail banking business, accounting for about 18,000 jobs. Citi is planning to sell other businesses, too, but has not announced them yet."
"The other half of the work force reductions will come from layoffs and attrition."
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