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Job cuts 'good for Hewlett-Packard,' says CEO

Axe In Tree Stump

Hewlett-Packard's plans to cut up to 16,000 workers is a way of reducing inefficiencies that stem from years-old mergers and acquisitions, making the software giant "more efficient and effective," CEO Meg Whitman told CNBC on Friday.



Citi Building Sign

People News: Citigroup, Sberbank

Citigroup lost two traders in its North America interest-rates trading group, including its head of automated market making, Mike Sung, according to people with knowledge of the matter.