Citi to have cut 5,000 jobs by end of June, FT reports

Citi will have cut 5,000 jobs by the end of the month, mostly in investment banking and trading, with a person familiar with the matter saying “hundreds” of employees are expected to be told by the end of June that their jobs have been eliminated, The Financial Times’ Stephen Gandel reports. The cuts represent 2% of the bank’s overall staff, CFO Mark Mason said at an investor conference on Wednesday.