April 14 Citigroup Inc has cut 200 to 300
jobs, or about 2 percent of its global markets workforce, the
Wall Street Journal reported citing a person familiar with the
The bank is tightly managing expenses and "making targeted
head count reductions in light of current market conditions,"
the Journal quoted a company spokeswoman. (r.reuters.com/vyb58v)
Steve Prince, the younger brother of former Citigroup Chief
Executive Charles Prince, was among those who lost their job,
the report said.
Current CEO Mike Corbat will talk to investors on Monday
after the bank reports its first-quarter earnings.
The U.S. Federal Reserve said on March 26 that it had
rejected Citigroup's request to boost its dividend and buy back
The news was a stinging blow to Corbat, who was charged with
improving the bank's relationship with regulators in October
2012, when he was named CEO.
(Reporting by Arnab Sen in Bangalore; Editing by Joyjeet Das)