News, analysis and personal reflections on the markets & the financial sector

Tuesday, July 1, 2008

Goldman cuts jobs; Citigroup likely to be next

Citigroup is expected to lower its worldwide headcount by as much as 10%, or 6,500 positions. It may eliminate entire trading desks in London, New York and other cities. Meanwhile, Goldman Sachs, which has weathered the credit crunch better than its rivals, is said to have cut jobs at its investment-banking division last week.

Read more at http://www.ft.com/cms/s/0/4b0e96b2-4093-11dd-bd48-0000779fd2ac.html?nclick_check=1

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