Citigroup Said to Cut Investment Bankers’ Bonuses by 20%

Citigroup Inc., the third-largest U.S. bank, cut investment bankers’ bonuses by 10 percent to 20 percent globally after a revenue slump, according to people with knowledge of the matter.

Average bonuses in Asian and European divisions dropped about 20 percent and the U.S., its largest market, saw reductions of about 10 percent, one person said, declining to be named because the details aren’t public. Staff members of the New York-based company were informed yesterday, two people said.