As Citigroup Inc. reported an $8.29 billion quarterly loss this week, they announced the division of their “supermarket” model into: Citicorp and Citi Holdings. Citicorp focusing on stronger-operations, including its global, corporate and investment banking services, while Citi Holdings overseeing noncore businesses such as its government-backed risky assets, insurancfe unit Primerica Financial Services and CitiFinancial, its Baltimore-based consumer lending arm.

After extensive layoffs and business sales last year, the bank’s work force dropped by about 52,000 to 323,000 in 2008, the company said. Last fall, Pandit announced Citigroup would shed a total of 75,000 employees - meaning there are 23,000 employees still to be let go. Read the full press release issued by Citigroup.燣ess than two months ago we reported on the Citigroup bailout, and asked the question whether it was problem solved or problem postponed. It goes without saying that the problem looks like it wasn’t solved then and is still present now.

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