(Reuters) - Citigroup Inc is cutting 4,500 staff positions worldwide and the bank expects to record a $400 million charge related to the job cuts, Chief Executive Vikram Pandit said on Tuesday.
Pandit, speaking at the Goldman Sachs Financial Services Conference, said the bank's expense reduction plan generated $1.4 billion in savings so far this year, nearly 4 percent of the bank's $37.72 billion of operating expenses in the first three quarters.
New York-based Citigroup becomes the latest U.S. bank to cut staff as the global economy has slowed amid European sovereign debt worries.
Citigroup shares closed down 8 cents, or 0.27 percent, at $29.75 on the New York Stock Exchange.
(Reporting by Joe Rauch in Charlotte, North Carolina)
