Citi cutting hundreds of jobs, less than 1% of workforce, Bloomberg reports

Citigroup is cutting hundreds of jobs across the company, with the Wall Street giant’s investment banking division among those affected, Bloomberg’s Jennifer Surane reports. The cuts amount to less than 1% of Citigroup’s 240,000-person workforce, according to people familiar with the matter. Staffers across the company’s operations and technology organization and U.S. mortgage-underwriting arm are also among those affected, the author notes. The routine cuts are part of Citigroup’s normal business planning, the people said. Reference Link