PBS NewsHour

Citigroup Plans to Lay Off 11,000 Employees in Scale Back

Clip: 12/05/2012 | 6m 3s

In a move to cut costs, increase profits and speed its recovery from financial crisis, Citigroup, Inc., announced 11,000 jobs were to be cut worldwide. Gwen Ifill talks to Bloomberg Businessweek Roben Farzad for more on what pushed America's third-largest bank to make these sweeping job cuts in the U.S. and overseas.

Aired: 12/05/12

Rating: NR

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