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Banking giant Citibank plans more job cuts
Published on Wed, Nov 28, 2007 at 02:43, Updated on Wed, Nov 28, 2007 at 02:48 in 
Tags: JOB CUT: Citibank is preparing a second round of big layoffs and almost 45,000 employees could be affected.
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New Delhi: Banking giant Citibank is planning more job cuts, just after it announced a mass layoff of 17,000 employees about seven months ago.
America's second largest bank has seen it's finances stretched by multi-billion dollar write offs largely tied to mortgage investments.
It is preparing a second round of big layoffs and number of employees affected could be as high as 45,000.
Citigroup currently employs 275,000 and is taking a major hit from exposure to the US' housing slump and credit squeeze.
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Indiscriminate lending to particular sectors,excessive trading in Stocks,Keeping all the eggs in one basket will lead to this situation in
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