Citigroup has told several former top executives that they will not continue to receive the multimillion-dollar severance payments they were promised when they left the troubled bank, according to a report.

The Wall Street Journal reported that executives whose payments have been cut included Michael Klein, the former co-head of Citigroup's investment bank, and Kevin Kessinger, the former IT and operations head at the bank.

Both men were promised periodic cash payments as part of their severance packages when they left last year, the newspaper wrote, including $42 million in cash and stock to be paid to Mr Klein through 2009 in return for him not working for a rival or poaching Citigroup employees or clients.

Citigroup has already paid out about $50 million of the $100 million it promised departing executives but is now hoping that the people affected will not quibble over the halted payments for fear of a public backlash.

Lawmakers and taxpayers were infuriated this year over AIG's retention bonuses for workers at its financial products division, where much of the company's losses were made.

AIG is surviving on an $80 billion-plus taxpayer bailout.

Citigroup has received about $45 billion from the Troubled Asset Relief Program (Tarp), the US Government's $700 billion bailout fund, and has already been criticised over plans for new corporate jets and renovations to executive offices.

A Citigroup spokesman was not immediately available for comment.

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