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 NEW YORK (AP) - Citigroup Inc. expects to have completed its corporate cost review by mid-April, company officials said Monday, as published reports suggested the nation's largest bank was considering cutting about 15,000 jobs.
The Wall Street Journal said the job cuts — which would amount to about 5 percent of Citigroup's worldwide work force — were part of the New York-based bank's restructuring plan, which was disclosed late last year and is aimed at improving the bank's financial performance.
Citigroup's chairman and chief executive, Charles Prince, has come under heavy criticism from investors because its expenses have been growing faster than its revenue, reducing profits.
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