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Citigroup to announce job cuts of up to 50,000: CNBC
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by Amitjha | November 17, 2008 at 04:39 am
467 views | 7 Recommendations | 3 comments
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Citigroup Inc CEO Pandit will announce job cuts of up to 50,000, according to a report on Monday by CNBC. Highlights:
* Job cuts to come from layoffs and attrition
* Implements significant expense reductions
* Workforce to shrink to 300,000 from 350,000
* To cut risky assets significantly, strengthen capital position
* Job cuts to be wrapped up in the first two months of 2009
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Amitjha
new delhi, India
Most RecentMost Recommended Comments (3)
at 05:18 on November 17th, 2008
That is quiet the number for one single Institution to lay off. I had to read it twice just to make sure I did not miss read it.
at 21:16 on November 17th, 2008
ya you are right , i faced the same problem, i cross chequed twice.Unfortunae but real.The City will turn into a tyarnopolis then.
at 15:59 on November 17th, 2008