Citigroup to shed another 53,000 jobs »
Posted By STONERS 11 months, 3 weeks ago in Business & Finance
Citigroup Inc . is shedding approximately 53,000 more employees in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.
Read Full Story at news.yahoo.com »
373 Views Share Story 3 Comments Report
Submitted By:
STONERS
Welcome to my profile...I've started a ""STONERS Daily News Group"" Please stop by and have a look and join if you like it ...
Who Also Submitted:
Other Related Articles:
RSS Join the Discussion
+ Add CommentComments So Far: 3 (view all)
-
Neutral
STONERS11 months, 3 weeks ago
This comment is below the standard viewing threshold View It »
"The company said it is shrinking its work force by 20 percent from its 2007 peak of 375,000. The company had already announced in October that it was eliminating about 22,000 jobs from that level."
Reply
"About half of the expected work force reductions will come from business sales; Citigroup already announced that it was selling Citi Global Services and its German retail banking business, accounting for about 18,000 jobs. Citi is planning to sell other businesses, too, but has not announced them yet."
"The other half of the work force reductions will come from layoffs and attrition." -
-
More News
Daily Finance
Michael Mauboussin's 'Think Twice': A cautionary tale for investors
Alternative energy down on the farm: A still-untapped resource
In a Congress of millionaires, Republican Anh Cao voted for poor New Orleans
Tom Sosnoff: A Q&A with the $600 million man behind Thinkorswim
Why the coming natural gas boom isn't all it's 'fracced' up to be
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.