In business news, Citigroup is expected to announce a new wave of layoffs as the bank continues to lose billions of dollars in the subprime mortgage crisis. Citigroup could layoff as many as 30,000 employees. The bank plans to announce a writedown of $24 billion. Citigroup is not the only corporation preparing for mass layoffs. The telecom firm Sprint-Nextel has revealed it plans to lay off several thousand employees on top of the 5,000 laid off last year. And the music company EMI says it plans to let go up to 2,000 workers, about a third of its workforce.