Layoffs
Shittygroup will axe 53,000 employees
The flurry of activity from Citigroup was all building up to this announcement: 53,000 employees will be shed over the next few months. Citi announced the layoffs at a town hall meeting hosted by CEO Vikram Pandit where it also announced the sale of Citi Global Services and its German retail banks.
Speaking at a conference in Dubai, Citigroup Chairman Win Bischoff had this to say about the pending layoffs:
“What all of us have done — and perhaps injudiciously — we’ve added a lot of people over … this very benign period. If there is a reversion to the mean … those job losses will obviously fall particularly heavily on the financial sector. Certainly they will fall particularly heavily on London and New York.”
How direct you are, Chairman Win.
[Yahoo Finance] Citigroup to shed another 53,000 jobs
[...] Shittygroup will axe 53,000 employees [...]
Good lord. What is going on in America??? Everyone wants a bail out? Everyone is going to be laid off? I am going to learn how to drive a tractor and plant a farm I guess…since my MBA in Finance is apparently worthless … at least I can feed my family that way. Not knocking farming as a profession…just pissed I paid for an MBA that is becoming futile in the job market
Farm subsidies aren’t being cut… it’s never been a better time to get into agriculture!
[...] has announced a Sunday-night emergency bailout from Uncle Sam. The bank — still reeling from massive layoffs — will get a $20 billion cash infusion and will have its $300 billion in assets completely [...]
[...] off will no longer be getting severance pay according to this internal memo. Know what this means? 53,000 layoffs probably wasn’t enough, more axings could be on the way… To: U.S. Citi employees From: [...]