NEW YORK — Citigroup is preparing to fire thousands from its worldwide investment-banking division, The Wall Street Journal reported Sunday.
The Journal, citing people familiar with the matter, said the layoffs are part of a plan to cut about 10 percent of the staff of the 65,000-member investment-banking group.
Messages left with Citigroup spokesmen Sunday were not immediately returned. The Journal said the fired employees could be notified as early as today.
It was not clear whether the reported job cuts would be in addition to cuts announced by Citigroup in April. After reporting a $5.1 billion first-quarter loss, the bank said then it was reducing its staff by 9,000, in addition to the 4,200 job cuts the bank announced late last year.
