Citigroup To Cut 2,000 More Jobs

Citigroup plans to lay off another 2,000 investment bankers and traders before the end of the month, people close to the situation said on Wednesday.

In January, the company announced plans to eliminate about 4,200 jobs, the bulk of them in Citigroup's investment bank.

The new layoffs will bring job cuts at Citigroup's investment bank to 6,000, or about 10 percent of its employee base. The company over all has more than 320,000 employees worldwide.

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Comments

[BOBONDE]

I HOPE THE ONES HURT THE MOST ARE THE ONES WHO VOTED REPUBLICAN IN 2000+2004

[tumblewind]

I am with you there!

[vandegrasse]

Me too! Idiots voted the BIG idiot into office. They have no one but themselves to thank!

[dadw5boys]

1.9 MILLION LOANS TO GO BAD AROUND JUNE !!!!!!!

Get ready for the show.

[jerrypenguin]

It is realized that this is very ancient history. However, is there any consciousness regarding the Bush Family and their association with the Savings & Loan scandal and the BCCI banking fraud?

http://members.tripod.com/rationalrevolution0/war/bush_family_and_the_s.htm

http://members.tripod.com/rationalrevolution0/war/bush_family_and_the_s.htm

http://www.informationclearinghouse.info/article3333.htm

[Bushfire]

As far as I know, Citigroup's investment bank, Smith-Barney, has been and remains highly profitable.

[speakingtruth2power]

Stocks go up when you fire your employees.

Why did they have all those workers anyway

if not to produce greater corporate profits?

The pencil pushers always cut more meat

than fat, looking for another short term fix.

[fact finder]

EB; I dread round three. It is going to be a killer in more ways than one.

[ErnestineBass]

Same here, fact finder. Not that it's going to effect my particular level of "affluence­"...LOL!

[biwee]

Did Rubin lose HIS job??? What have the Citigroup shareholders received from the $ tens of MILLIONS
Rubin has been paid in the last years???

[drjay79]

in December these same companies were paying out their multimillion dollar bonuses

[jerrypenguin]

How is the Citigroup executive level, including the board of directors, doing? Do they allow any members to fail? Do they take care of each other? Will any of their members lack housing, medical care, food, clothing, education, and so on? They almost could be considered a collective (Communist) group.

[ErnestineBass]

DING!

Round Two?