Citi to cut 185 jobs in home mortgage division: report
By Sue Chang
Last update: 4:14 p.m. EDT March 17, 2008
SAN FRANCISCO (MarketWatch) -- Citigroup Inc.
(C) will lay off 185 employees in its home mortgage division, the Associated Press reported Monday, citing a CitiMortgage spokesman. The layoffs were triggered by difficulties in selling home equity products, according to the news agency. However, the company is not exiting the home equity business but will focus more on supporting existing Citibank, corporate and Smith Barney customers.
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