Citigroup to idle 17,000 – to shift 9,500 positions to "lower cost locations"

Company also will shift 9,500 posts, consolidate operations

Under pressure from investors to contain burgeoning costs, Citigroup Inc., the nation’s largest financial institution, announced that it will eliminate about 17,000 jobs, shift 9,500 positions to "lower cost locations" and consolidate some corporate operations.

By Eileen Alt Powell
Associated Press

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