On top of that, the company is trying to reduce its work force by 8,000 people by the end of next year.

The company has already taken $1.65 billion in restructuring charges in the last two years and reduced its staff by 20,000 people, to 106,000.

In December, it announced plans to reduce its work force by more than 5,000 people.

During the last year, it has reduced its staff by 6,200 people, or 7.7 percent of its work force.

The move will reduce its work force by 2,500 to 3,000 people, of whom about two-thirds are expected to join the acquiring companies.

The company also said that the division was reducing its administrative work force by 100 people.

Citicorp said it had cut costs $1.3 billion and reduced its staff by 14,000 people in the last two years.

The agency said on Friday that it would reduce its staff by at least 90 people - about 8.2 percent - in the next six weeks.

The company has lost money the last six quarters and reduced its employment by 7,000 people, to 19,000, in a painful series of cutbacks.

Since September 1986, the bank has reduced its work force by 2,900 people.