Jill Treanor
15th Jan 2008
Citigroup could announce writedowns of up to $20bn on its sub-prime mortgage business today and plans to slash more than 20,000 jobs, or a fifth of its workforce. Vikram Pandit, Citi's new chief executive, is expected to announce the deterioration in the bank's trading as he publishes fourth-quarter results showing a loss of about $5bn as well as a likely cut in the dividend.
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