“Citigroup started the ball rolling in early December, when newly installed CEO Michael Corbat said the bank would cut 11,000 jobs, or 4% of its staff. Citi has already trimmed its staff by 25% since the financial crisis hit.
And last week, Morgan Stanley announced plans to cut 1,600 employees, or 3% of its staff, in the coming weeks.”
Source:Wall Street’s big banks are gearing up for more layoffs – Jan. 15, 2013
