Wednesday, April 11, 2007
This is also the front page of the evening standard
Up to 1,000 bankers paid between £100,000 and £1 million are to lose their jobs at Canary Wharf. It is part of a worldwide cull ordered at Citigroup, the world's biggest bank. None of the 9,000 staff based in London know yet who will be sacked. Senior managers have been told to go through records and axe the poorest performers. Staff will learn within weeks whether they are to be paid off. Many of the losses will be in managerial roles with the investment bank and wealth management arms among those taking the biggest hits. Backroom staff will also be affected.