Layoffs Watch '14: Citi

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The House of Corbat has asked a few employees to turn in their ID badges and not come back, unless they're looking to open a checking account, in which case, mi casa es su casa.

Citigroup Inc. (C), the third-largest U.S. bank, cut 200 to 300 jobs in its division handling stock and bond trades to shrink costs amid a slump, according to a person familiar with the matter. The reductions amount to about 2 percent of the workforce in the bank’s global markets business, the person said, asking not to be named because firings are confidential. The firm, which employed 251,000 people at the end of last year, is due to report first-quarter earnings before U.S. markets open today.

Citigroup Said to Cut Up to 300 Jobs in Global Markets Division [Bloomberg]

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