NEW YORK, June 23: Citigroup Inc plans to cut thousands of trading and investment banking jobs this week, part of previously reported plans to slash about 10pc of its investment bank division, a person familiar with the situation said on Monday.

Still the largest US bank, which posted a $5.1 billion first-quarter loss in April, for now does not intend to increase the number of job cuts from about 6,500, the source said. The investment bank division has about 65,000 employees worldwide.—Reuters