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Citigroup said Monday it would cut 20 percent of its global workforce, or some 50,000 jobs, as the US banking giant struggles with the global financial crisis and four consecutive quarterly losses.

Citigroup to slash 50,000 jobs, expenses worldwide
Citigroup said Monday it was slashing a near-record 50,000 jobs worldwide as the US banking giant tightens its belt further to cope with a global financial crisis and heavy losses.