Citigroup beats analyst estimates for Q2

Citigroup expects to avoid “massive” reductions in staffing amid a market slowdown, according to the firm’s chief financial officer.

16th July, 2012

Citigroup, the third-largest US bank by assets, expects to avoid “massive” reductions in staffing amid a market slowdown, according to the firm’s chief financial officer.

The New York-based bank employed about 261,000 people at the end of June, compared with 263,000 three months earlier, according to data posted today to its website.

The bank rose 0.7 per cent to $26.84 in early trading in New York after it reported a second-quarter profit that...

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