Citigroup, which already has reduced its 350,000
global work force by about 9,000 workers since March, now plans to slash about 10% of its investment bank division, according to Reuters. The layoffs are part of CEO Vikram Pandit's plan to reduce the firm's annual expenses by $15 billion, notes The Wall Street Journal.
Goldman Sachs is also cutting staff and started handing
out the pink slips to employees in the investment banking division last
week. Goldman is also expected to cut 10% of staff, according to the Financial Times.
So far a grand total 83,000 Wall Street employees have been layed off, according to The New York Times, with more pink slips on the way. - Maria Woehr
See Dealscape's Credit Suisse expects more layoffs
See Dealscape: Pink slips at J.P. Morgan
See Dealscape: More Wall Street layoffs at Goldman Sachs
See Dealscape: More Lehman layoffs
See Dealscape: Bear Stearns layoffs begin
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Citigroup Inc. and Goldman, Sachs & Co. reportedly will hand out pink slips to the their respective investment banking divisions later this week, according to various media reports. 
