NEW YORK: Citigroup Inc said on Wednesday it would eliminate 17,000 jobs, or about 5% of its workforce, in a broad restructuring designed to cut costs, boost profit, and bolster a lagging stock price.
An additional 9,500 jobs will move to lower-cost locations, including two-thirds through attrition, meaning 8% of the bank's 327,000-person workforce will be affected by the restructuring.
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