Citi Cuts 2,000 More Jobs, Severance Costs Hit $650 Million
- Company trimmed 7,000 jobs so far this year, CFO Mason says
- Firmwide headcount remains flat as Citi adds tech staffers
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Citigroup Inc. trimmed headcount by another 2,000 jobs in the third quarter, bringing the firm’s total severance charges for the year to $650 million.
The company has cut about 7,000 positions so far this year, Chief Financial Officer Mark Mason said on a conference call with analysts discussing earnings. That compares with the $450 million in charges the bank had recorded at the end of June, which Mason said at the time covered about 5,000 dismissals.