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Citigroup May Fire 10% of Investment-Bank Workers WSJ Report

Discussion of the condition of the general economy. Post links to articles of interest, but do not post copyrighted material which violates fair use.

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Citigroup May Fire 10% of Investment-Bank Workers WSJ Report

Postby Otis on Sun Jun 22, 2008 9:21 pm

http://www.bloomberg.com/apps/news?pid= ... =worldwide
Citigroup Inc., the bank that's lost more than any other in the collapse of the U.S. mortgage market, plans to fire as much as 10 percent of the about 65,000 employees worldwide in its investment-banking division, the Wall Street Journal reported.

The first notices in the round of dismissals may begin tomorrow, the newspaper said, citing people it didn't name. The New York-based bank, which has more than 350,000 employees, cut at least 9,000 workers as of March 31, the Journal said.
Hmmmmmmmm
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Otis
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Postby Steve Owen on Mon Jun 23, 2008 9:09 am

...the bank that's lost more than any other in the collapse of the U.S. mortgage market....


Ha! I sold CitiGroup near its top... without any advice from the broker who put me in it in 2001. Gotta love it when you win. :-)
I haven't a particle of confidence in a man who has no redeeming petty vices.
- Mark Twain, a Biography
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