Citi reviewing ways "to be more cost-effective"

NEW YORK, Nov 26 (Reuters) Citigroup Inc is reviewing ways to be more cost effective to position its business for current economic realities, spokesman Mike Hanretta said on Monday.

Hanretta said: ''Our business heads are planning ways in which we can be more efficient and cost-effective to position our businesses in line with economic realities.'' The statement followed a CNBC report that Citi was planning big layoffs, perhaps on the order of 17,000 to 45,000 spots.

''Any reports on specific numbers are not factual,'' Hanretta said. He declined to elaborate beyond his statement.

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