In the latest sign that financial institutions continue to wobble, Citigroup said it plans to eliminate 53,000 more jobs and cut expenses by 20 percent.

About half of the expected work force reductions will come from business sales. Citigroup already had announced it was selling Citi Global Services and its German retail banking business, accounting for 18,000 jobs. It plans to sell other unspecified businesses, a spokesman said. The rest of the reductions will come from layoffs and attrition.

The company did not pinpoint geographic locations where cuts will be made. In Indiana, it has a fairly small presence, with a few retail branches and a small number of Citi Financial loan offices, Smith Barney brokerage offices and other offices.

Banks and brokerages worldwide have announced more than 200,000 job cuts since the subprime mortgage market collapse last year sparked a credit crisis.

Citi's plans, posted on its Web site, were discussed by Chief Executive Vikram Pandit at a meeting with employees in New York on Monday.

Shortly before that, Citigroup Chairman Win Bischoff said at a business forum in Dubai, United Arab Emirates, that it would be irresponsible for companies not to look at staffing in the event of a prolonged downturn.

With the latest announced cuts, Citi said it is shrinking its work force by 20 percent from its 2007 peak of 375,000 for a total of 75,000 jobs eliminated.

It has posted four straight quarterly losses, including a $2.8 billion third-quarter loss.