The Washington Times - November 17, 2008, 09:39AM

Citigroup is aiming to cut about 53,000 jobs in coming weeks during the economic downturn, the AP is reporting.

If its job cuts continue, Citigroup will have to change its name to Towngroup, maybe even Villagegroup.

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Meanwhile, the banking industry is working on a new motto: Bigger is better, but smaller is necessary.