Citigroup job cuts to be global and across businesses

NEW YORK (Reuters) - Citigroup expects job cuts to be global, across multiple business lines, including retail and investment banking, a person familiar with the matter told Reuters on Monday.

Citigroup earlier Monday said it plans to shed 52,000 jobs by early next year.

The bank expects to boost its deposits mainly through growth in its existing branch network, rather than acquiring other banks, the person said. The bank has no need to cut its dividend, given its current capital levels, the source said, despite its dividend yield of about 6.7 percent.

(Reporting by Dan Wilchins and Jonathan Stempel; editing by Jeffrey Benkoe)