Citigroup cutting more than 11,000 jobs - WDRB 41 Louisville News

Citigroup cutting more than 11,000 jobs

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LOUISVILLE, Ky. (WDRB) -- Citigroup just put more than 11,000 jobs on the chopping block.

The bank says it needs to eliminate the positions to cut expenses and improve efficiency.

The move would slash about 4 percent of the company's workforce.

It is expected to save Citigroup $900 million in 2013, and more than $1 billion annually starting in 2014.

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