November 17, 2008 / 1:18 PM / in 9 years

Citigroup drops on job cuts report

1 Min Read

NEW YORK (Reuters) - Shares of Citigroup fell more than 2 percent in choppy trade before the bell on Monday after CNBC television reported that the U.S. bank was set to announce a cut of as many as 50,000 jobs.

The stock, a Dow component, fell to $9.31 before the bell from a Friday close of $9.52 on the New York Stock Exchange.

Reporting by Ellis Mnyandu; Editing by Walker Simon

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