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Citigroup's Getting Smaller

Speculation about Citigroup's restructure is all over the interweb, based on Mr. Prince's Monday memo.

I have it on pretty good authority that 17,000 people will be laid off over the next few days with another 8,500 to go via attrition or job reassignment to less expensive areas (eg, get them out of NY or London).

Wouldn't it be ironic if, after his long-awaited promotion to MD ...

No. Let's not go there.

Actually, he's safe, so not to worry.