NYT
Citigroup to cut 11,000 jobs
Citigroup announced on Wednesday that it would cut 11,000 jobs, reducing its work force by roughly 4 percent in an effort to cut costs.
Under the reduction, 1,900 jobs will be eliminated in the institutional clients division. Another 6,200 positions will be removed from the bank’s consumer banking business, along with 2,600 jobs in the operations and technology group. …
“These actions are logical next steps in Citi’s transformation,” Mr. Corbat said in a statement. “While we are committed to – and our strategy continues to leverage – our unparalleled global network and footprint, we have identified areas and products where our scale does not provide for meaningful returns.”
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Keep ‘em coming.
Steve Eggleston on December 5, 2012 at 11:47 AM
This is great news…this allows more people into the work force instead of occupying a job…or something from Pelosi.
right2bright on December 5, 2012 at 11:48 AM
How many were Dear Leader voters…?
d1carter on December 5, 2012 at 11:50 AM
Mini-hostess?
tommy71 on December 5, 2012 at 11:50 AM
Way to go, O.
thebrokenrattle on December 5, 2012 at 11:51 AM
This should have been done a long time ago, and is one reason Vikram Pandit is no longer CEO at Citi. It’s a bloated bureaucracy that desperately needs some streamlining.
But Tim Geithner still wants to impose a “financial crisis responsibility fee” on Citi and other big banks.
rockmom on December 5, 2012 at 11:52 AM
Oh STFU, slimy little corporate weasel. That pile of Bravo Sierra doesn’t impress me any more than my own company’s corporate propaganda.
MelonCollie on December 5, 2012 at 11:53 AM
It’s still all Bush’s fault – right? FORWARD!
Pork-Chop on December 5, 2012 at 11:54 AM
That’s 11,000 more people who’s income tax revenue can no longer be counted on by Obama to pay his voters off in Mich. Shame.
Weight of Glory on December 5, 2012 at 11:56 AM
Believe me, more job cuts are coming in the banking business and elsewhere. The only sector of the economy that will grow under Obama will be the Federal Government.
SC.Charlie on December 5, 2012 at 11:56 AM
Oh I don’t know about that…I’m sure
thief-fencespawn shops andcastoff junkthrift stores will see an increase, and let’s not forget the good people in the guns and ammo business!MelonCollie on December 5, 2012 at 11:58 AM
As in
“Would you FORWARD my last check to my new address since I just got evicted from my apartment? I guess it’s section 8 housing for me”.
Paul-Cincy on December 5, 2012 at 12:01 PM
Gun manufacturers and ammo companies are booming…
d1carter on December 5, 2012 at 12:01 PM
Add it all up, fools. Next year will be lots of fun and Schadenfreude.
Schadenfreude on December 5, 2012 at 12:02 PM
And lobbyists, repo men, check cashing joints, pawn shops, and discount dollar stores.
Some black market stuff like cigarette smuggling will do well moving Forward! as well.
forest on December 5, 2012 at 12:02 PM
..great for democrats.
This is 11,000 more people who will start having to pull a check from the government and then become a solid voting bloc for the liberals that will promise them more “free stuff”……
……..”funemployment”…yea!!!…it’s what’s for breakfast.
Baxter Greene on December 5, 2012 at 12:02 PM
I’m pretty sure this is all Sandy related.
Oil Can on December 5, 2012 at 12:02 PM
The fool CEOs of WalMart and Costco bundled dough for Oafbama and voted for him. Boycott.
Schadenfreude on December 5, 2012 at 12:03 PM
Sandy replaced GWB.
He promptly got out of his shell, the fool.
Schadenfreude on December 5, 2012 at 12:04 PM
….wish that was just a joke:
Pelosi: Unemployment Benefits Biggest Stimulus for Economy
http://blog.heritage.org/2010/07/07/pelosi-unemployment-benefits-biggest-stimulus-for-economy/
….and it gets better….
Steny Hoyer: Food Stamps, Welfare Programs Stimulate the Economy
http://thenewamerican.com/economy/commentary/item/12126-steny-hoyer-food-stamps-welfare-programs-stimulate-the-economy
……Greatest Administration Evaaaaaaaaaaaaaaaaa!!!!!!!!!!!
Baxter Greene on December 5, 2012 at 12:07 PM
Yup, the economy is certainly poised to take off now.
rbj on December 5, 2012 at 12:10 PM
I’d have to say this group of people would tend to be slightly more conservative than not, on average.
GW_SS-Delta on December 5, 2012 at 12:11 PM
You are right, I didn’t mean it as a joke…sarcastic irony. I was thinking of those links when I wrote it…it’s just sad, but Pelosi and the rest will do and say anything to stay in power.
right2bright on December 5, 2012 at 12:22 PM
Forward.
Schadenfreude on December 5, 2012 at 12:27 PM
Hey, where is the great Obamaeconomy?
Didn’t his majesty promise that things would be rip roaring along by now?
Galt2009 on December 5, 2012 at 12:56 PM
The private sector is doing fine.
The Rogue Tomato on December 5, 2012 at 1:22 PM
Baxter Greene on December 5, 2012 at 12:02 PM
Obama’s plan proceeding apace!
He is the Destroyer in Chief, while he lives like this.
May all who brung him, from the left to the right, and their families, be destroyed.
Schadenfreude on December 5, 2012 at 1:29 PM
Another reason I don’t understand the right’s obsession with defending Squall-Mart.
MelonCollie on December 5, 2012 at 1:57 PM
Guess Citigroup couldn’t hack it with all that TARP money they weren’t allowed to refuse back in 2008. Anyone remember how they were one of the 9 banks that the Fed forced to take the money? And then Obamuh didn’t want to see any of it paid back bcuz he wanted control of the banks. Wonder how many of the 11,000 jobs are in the US. Check out dailyjobscuts.com to keep up on layoffs, bankruptcies and closings.
stukinIL4now on December 5, 2012 at 2:05 PM
Affirmative. Never forget it’s always is and always will be the fault of Bush.
Frank Enstine on December 5, 2012 at 2:18 PM
Non-union.
Frank Enstine on December 5, 2012 at 2:19 PM
Wal-Mart literally has their own anti-union “strike team” (with business suits and propaganda instead of body armor and guns) that they deploy to anywhere that might actually unionize. I swear I am not making this up. They can more than adequately defend themselves.
MelonCollie on February 25, 2013 at 1:26 PM