Citigroup Plans Alternatives Group Cuts

Mar 20 2008 | 12:57pm ET

Citigroup has announced a further 2,000 job cuts, with the ax is expected to fall particularly hard on its investment banking, trading and alternative investments groups.

The Wall Street giant—buffeted by losses linked to the subprime mortgage market collapse, and having already slashed some 30,000 jobs since September—said it expected a large number of job cuts in its institutional clients group, which includes hedge fund and private equity services.

The bank did not say how many jobs would be lost in the institutional clients group. The cuts are expected by the end of the month.


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