Citigroup to lay off 45.000

[donsu]

http://www.cnbc.com/id/21974307


Citigroup, Wall Street’s largest financial services firms, is planning its second round of large-scale layoffs in less than a year, CNBC has learned.

People inside Citigroup Citigroup say the firm hasn’t set a target number of cuts from its roughly 320,000 employees. But people with knowledge of the matter have described the pending job reductions as "massive" and "large." The total number could reach as high as 45,000, these people estimate.
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have a prosperous and happy new year

[enid602]

1. Christmas

It's starting to look a lot like Christmas. . . here in Bushworld.

[lapfog_1]

8. Christmas in Bushworld is looking a whole lot like

Christmas in Pottersville.

[HCE SuiGeneris]

2. Such resiliency in the market/economy in the face of the sub-prime shakeout.

The MSM meme is so spot on. Yeah, uh huh.

[Ilsa]

3. I thought the Arab investment in Citicorp was supposed to prevent

job losses. At least, that was the impression given by the financial gurus on Joe Scarborough. They said foreign investment in US companies pays off by saving the companies and that it would help create jobs. Then again, why should we believe what Morning Joe says?

[aquart]

5. Nah. Probably couldn't get the money without the job cuts.

Nobody ever asks the CEO to take ten million less and save the jobs.

[spanone]

4. haven't heard a peep in msm on this.....45,000...wow, that's not news?

[alcibiades_mystery]

6. it was all over the news 3 days ago

when the story came out.

[MetaTrope]

7. Citigroup is certainly international, so I wonder if the layoffs will be concentrated anywhere?

[Bitwit1234]

9. I was thinking about this seriously

Could the reason the financial institutions are leaving in droves is because they are afraid they will be caught in a scandel because they are cooking the books and worst.