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CitiGroup Cuts 53,000 employees; Goldman Cuts Bonuses

Citigroup announced it would lay off 52,000 workers, cutting its staff to about 300,000. That’s 75,000 fewer employees than it had at the end of last year, it said, Citigroup also said it would try to save up to $52 billion in 2009 to cope with the deepening global economic crisis. The bad news was [...]

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