January 7, 2008 / 12:51 PM / 11 years ago

Citi mulls cutting work force by 5 to 10 percent: report

A man is reflected in the Citibank logo in Tokyo, November 5, 2007. Citigroup is considering cutting 5 percent to 10 percent of its work force, which totals 327,000, CNBC television reported on Monday, without citing sources. REUTERS/Toru Hanai

NEW YORK (Reuters) - Citigroup (C.N) is considering cutting 5 percent to 10 percent of its work force, which totals 327,000, CNBC television reported on Monday, without citing sources.

CNBC said a Citigroup announcement was likely to come later this month when the largest U.S. bank reports quarterly earnings. It also said the bank could sell off a smaller unit.

Reporting by Christian Plumb; editing by John Wallace

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