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Daily Digit: Citigroup to Cut 11,000 Jobs
The Daily Digit today is 11,000. Citigroup is cutting 11,000 jobs around the world, which is about four percent of its staff. The hardest hit is the global consumer banking unit, which handles everyday functions in traditional branches and online. The bank plans to unload or scale back consumer operations in Pakistan, Paraguay, Romania and Uruguay, planning to shed 84 branches in five countries, with more than half of that in the United States.
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