Citigroup may cut 17000 jobs

[a529612]

Citigroup May Cut 17,000 Jobs, or 5% of Workforce, Person Says

By Joseph N. DiStefano

April 10 (Bloomberg) -- Citigroup Inc., the biggest U.S. bank, may cut 5 percent of its workforce, or almost 17,000 jobs, as the company seeks to lower annual expenses by more than $1 billion, said a person with knowledge of the company's plans.

http://www.bloomberg.com/apps/news?pid=20601087&sid=alCM0uG_tx4w&refer=home

 

[a529612]

Or 26000 or 45000 depending on the mood of the Saudi prince...

http://money.cnn.com/2007/04/10/news/companies/citigroup.reut/?postversion=2007041006

 

[lloyd111]

Quote from a529612:

Citigroup May Cut 17,000 Jobs, or 5% of Workforce, Person Says

By Joseph N. DiStefano

April 10 (Bloomberg) -- Citigroup Inc., the biggest U.S. bank, may cut 5 percent of its workforce, or almost 17,000 jobs, as the company seeks to lower annual expenses by more than $1 billion, said a person with knowledge of the company's plans.

http://www.bloomberg.com/apps/news?pid=20601087&sid=alCM0uG_tx4w&refer=home

Wow! less people to pay wages and benefits to,this must be a bullish sign!

 

[universaltrader]

That is a lot of jobs! I feel bad for whoever has to get cut.

 

[WallstYouth]

Quote from a529612:

Citigroup May Cut 17,000 Jobs, or 5% of Workforce, Person Says

By Joseph N. DiStefano

April 10 (Bloomberg) -- Citigroup Inc., the biggest U.S. bank, may cut 5 percent of its workforce, or almost 17,000 jobs, as the company seeks to lower annual expenses by more than $1 billion, said a person with knowledge of the company's plans.

http://www.bloomberg.com/apps/news?pid=20601087&sid=alCM0uG_tx4w&refer=home

Bank of America has been kicking their asses what a shame. Go Kenneth go!!