Thursday, March 20, 2008

Job losses at Citigroup

Citigroup cuts 2,000 jobs: source

NEW YORK (Reuters) - Citigroup Inc is cutting about 2,000 more investment banking and trading jobs, a person briefed on the matter said, as the largest U.S. bank moves to lower costs after subprime mortgage and credit problems led to a record quarterly loss.

Posted by dohousescrashinthewoods @ 09:15 PM (810 views)
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One thought on “Job losses at Citigroup

  • It’ll be much more than that:
    “also plans to move roughly 9,500 jobs to lower-cost locations but declined to specify”
    “Citigroup Inc. will eliminate 1,600 jobs in New York City as part of its global restructuring effort that will cut 17,000 jobs across the board.” http://www.crainsnewyork.com/apps/pbcs.dll/article?AID=/20070411/FREE/70411001/1048/EVENTS
    “Total job cut could be as many as 45,000, CNBC … chairman of Citi Europe who has said he doesn’t want the job permanently” – LINK NOW DOESN’T WORK
    “Citigroup’s job cuts could reach 30,000 or more over the next year and a half because of increasing writedowns … that to rescue Citi,” al-Ansari said at …
    http://www.msnbc.msn.com/id/23454681/site/14081545 – 10k ” LINK NOW DOESN’T WORK

    How many at Bear? All the hedge funds winding up, and who’s next?
    All does not bode well Britian’s cash cow – what was the old saying about when America sneezes?! The US is life support!!

    And the markets ended up in the US today – expect another rollercoaster ride next week!

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