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Wed Dec 5, 2012, 09:15 AM

Citigroup to cut 11,000 jobs worldwide, 4 percent of workforce

Source: Reuters

Citigroup to cut 11,000 jobs worldwide, 4 percent of workforce

Wed Dec 5, 2012 9:10am EST

(Reuters) - Citigroup Inc will eliminate 11,000 jobs worldwide, about 4 percent of its total staff, in a move to save as much as $1.1 billion a year in expenses, the company said on Wednesday.

The move will initially result in pre-tax charges of $1 billion to fourth quarter earnings, the company said in a statement.

-snip-


Read more: http://www.reuters.com/article/2012/12/05/us-citigroup-jobs-idUSBRE8B40NY20121205

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Reply Citigroup to cut 11,000 jobs worldwide, 4 percent of workforce (Original post)
Eugene Dec 2012 OP
Egalitarian Thug Dec 2012 #1
ProSense Dec 2012 #2
lonestarnot Dec 2012 #3

Response to Eugene (Original post)

Wed Dec 5, 2012, 09:24 AM

1. Thank God it passed! n/t

 

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Response to Eugene (Original post)

Wed Dec 5, 2012, 09:27 AM

2. How long before they

"Besides the job cuts, the reorganization will reduce annual revenues by 'less than $300 million,' the statement said."

...run out of business? Will anyone shed a tear?

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Response to Eugene (Original post)

Wed Dec 5, 2012, 09:28 AM

3. Fuck them. They are quaking for EW!

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