For those of you worried they’d fallen behind.
From the WSJ: Citigroup is on track to eliminate 300
sales-and-trading jobs globally in 2012, according to people briefed on the
process. The cuts follow a 5% reduction in Citigroup’s securities-and-banking
unit last year, a move that culled 900 jobs. The sales-and-trading business is
part of the securities unit, which employs roughly 17,000 people…The current
round of job cuts was set in motion before the ouster last month of Vikram
Pandit, Citigroup’s chief executive, and John Havens, the president and chief
operating officer, who also ran the investment bank, the people said. Both Mr.
Pandit and his successor, Michael Corbat, have said that controlling expenses
is a priority. “We will remain extraordinarily focused on our efficiency ratios
and our overall expense levels,” Mr. Corbat told analysts on Oct. 16, the day
he was named to succeed Mr. Pandit
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