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CITI TO CUT 17,000 JOBS
Global banking giant Citi will cut 17,000 jobs at the business, regional and headquarters levels as part of a plan to reduce costs and streamline the organization, according to Citi officials. The layoffs follow a previously announced "IT optimization program," wherein the bank will simplify and standardize its IT. The cutbacks are the result of an expense review, headed by COO Robert Druskin, conducted over the past three months. IT-related savings are expected to reach
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