In its ongoing struggle to steady itself after suffering massive losses from deteriorating debt, the New York-based banking giant, Citigroup Inc., announced Monday that it would cut another 24,000 jobs, bringing its total reductions to 52,000 in the coming months.

CEO Vikram Pandit discussed the plans - posted on the company’s web site – with the employees at the company’s town hall meeting in New York. The move comes after the company posted four straight quarterly losses, including a loss of $2.8 billion during the third quarter.