The Wall Street Journal
reported Monday that the New York-based bank will slash 15,000 jobs in the first cutback effort overseen by new operating chief Robert Druskin. The
BuzzFeed Reportedly Close to Pact to Go Public Via SPAC
Online-media firm BuzzFeed seeks to go public via a SPAC as part of plans to expand by buying Internet media rivals, reports say.
, citing people familiar with the matter, said the move would cut employment by 5% and could be accomplished through attrition.
Druskin was brought aboard late last year by CEO Charles Prince in a bid to reverse Citi's soaring expense growth. Investors have also been dissatisfied with the bank's failure to bolster its U.S. retail operations.
The job cuts would be announced by next month's first-quarter earnings release and would cost around $1 billion, the