(Reuters) - In a memo to employees on Monday, Prince said the bank plans to consolidate some back-office, middle-office and corporate functions, move some work to lower-cost areas, and make its technology platforms more efficient. Reuters obtained a copy of the memo, and a Citigroup spokesman confirmed its contents.
Other published reports have said that Citigroup might eliminate 15,000 jobs, or about 5 percent of its work force of 327,000. CNBC on Monday said Citigroup might cut 45,000 jobs.
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