NEW YORK: Citigroup is setting up fire thousands from its global investment-banking dissection, The Wall Street Journal published on Sunday.
The Journal is referring to people well-known with the issue said that the layoffs are component of a plan to slash about 10 percent of the staff of about 65,000-member investment-banking group.
Messages left with Citigroup spokesmen on Sunday were not directly returned. The Journal said the fired employees could be reported as early on as Monday.
The New York-basked global bank, together with much of Wall Street is in the throes of recuperating from shocking investments on mortgages and leveraged loans slashing billions of dollars from its portfolio.
