Citigroup's Layoffs Could Reach 24,000 This Year

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Citigroup plans to announce a writedown of as much as $24 billion and layoffs that could total 24,000 due to subprime and credit-related losses. The Wall Street Journal reports that state-owned China Development Bank has decided not to buy a $2 billion stake in Citigroup.

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At www.cnbc.com

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