Citigroup Cuts 11,000 Jobs as Revenue Slumps

Citigroup Inc.’s Michael Corbat, who took over as chief executive officer less than two months ago, will cut more than 11,000 jobs and pull back from some emerging markets to drive down costs as revenue dries up at global banks.

Most Recent Videos

Jay Z Takes On Spotify and Beats
54:38 - Jan. 30 -- Former eMusic CEO Adam Klein and Bloomberg Intelligence's Paul Sweeney discuss Jay Z's expansion into music streaming to take on Spotify and Apple’s Beats. They speak with Bloomberg's Alix Steel on "Street Smart."
  • Shake Shack's Secret Ingredient Is Hospitality: Knapp
  • White House Briefing: Romney, Russia Sanctions, U.S. GDP
  • NFL's Goodell Says Season Has Been Personally Tough