Report: Citigroup May Cut 15,000 Jobs

Report: Citigroup May Cut 15,000 Jobs

There are 22 comments on the Newsday story from Mar 26, 2007, titled Report: Citigroup May Cut 15,000 Jobs. In it, Newsday reports that:

Citigroup Inc. expects to have completed its corporate cost review by mid-April, company officials said Monday, as published reports suggested the nation's largest bank was considering cutting about 15,000 ...

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what a world

New York, NY

#25 May 4, 2007
Linda wrote:
Operating cost in NY is much higher in comparision to other branches all over the world. Moreover, work efficiency is another
factor that makes condition unstable for employees. Since Global economy is the driving factor for present business atmosphere, it is bold step to reduce the size of emplyess about 1/2, otherwise, sooner or later we may witness bankcruptcy.
Most of the employees are making money in NY office in six figure without working even half the amount of work that anybody in India and China perform with 1/4 th salary.
So why to wait? Fire or layoff at least 1/4 the of employees at NY branch to make this branch profitable.
So true. They make SIX figure salaries, travel all over the world, business class, stay in expensive hotels, etc. and get a bonus on top of that.
what a world

New York, NY

#26 May 4, 2007
PJM wrote:
Count me in. As soon as I get whacked this week, I'm closing ALL of my Citi accounts. The customer service and employee commitment sucks. Chase or B of A... here I come. You couldn't pay me enough to continue doing business with Citi.
ALL MY ACCOUNTS ARE WITH HSBC. ONLY 1 CITI CARD - WILL CANCEL THAT TOO.

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