Getting your player ready...
NEW YORK — Citigroup is eliminating 4,500 jobs in its latest effort to cut costs. The bank will take a $400 million charge in the fourth quarter as a result.
Citigroup’s chief executive, Vikram Pandit, disclosed the job cuts at an investor conference Tuesday.
The cuts represent about 1.7 percent of its global workforce of 267,000. Pandit said the cuts would be made over the next few quarters.
Pandit also warned that Citigroup will take a $500 million hit to revenue from an accounting-related charge related to the value of its debt.
