Citi, Goldman Cutting Jobs, Reports Say

Updated from 10:12 a.m. EDT.

The lingering credit crisis is taking its toll on Wall Street jobs, as Citigroup(C Quote) and Goldman Sachs(GS Quote) are making major job cuts in their investment banking divisions, according to published media reports.

Citi could let go as much as 10% of the unit's workers, which total about 65,000, according to a report, published Sunday on The Wall Street Journal's Web site. The report cited anonymous sources familiar with the situation and said the job cuts are likely to begin Monday.

Citi is about halfway to its goal, the Associated Press reported Monday. ...