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Citigroup to Cut at Least 10,000 Jobs: Report

Started by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
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Citigroup is cutting at least 10,000 jobs in its investment bank and other divisions throughout the world, the Wall Street Journal said, citing people familiar with the matter. Citigroup Chief Executive Vikram Pandit and his deputies have instructed managers to slash their budgets for employee compensation by at least 25 percent, the paper said citing the people. Citigroup announced last month it cut 11,000 jobs in the third quarter, bringing the total number of job cuts in 2008 to 23,000. http://www.cnbc.com/id/27713116 It only gets uglier, and it's only just begun.
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