Citigroup could write down up to $24 billion: report - Yahoo! News: "NEW YORK (Reuters) - Citigroup Inc. (C.N) could make as much as $24 billion in writedowns and lay off 20,000 workers as part of a plan to cut costs and boost capital, CNBC said on its Website in a report dated Sunday.
The report said the plans will be unveiled on Tuesday, when it reports its fourth-quarter results.
Citigroup is widely expected to report a quarterly loss and announce big lay-offs as it looks to cut costs in a tough business environment."
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