Citigroup Layoffs?
The Citi Never Sleeps

Astoria, NY

#3524 Nov 13, 2008
anonymous

Westfield, NJ

#3525 Nov 13, 2008
http://www.reuters.com/article/marketsNews/id...

Nov 14 (Reuters)
Citigroup (C.N: Quote, Profile, Research, Stock Buzz) is embarking on another huge round of layoffs and is raising interest rates on millions of credit-card customers.
Still here

United States

#3526 Nov 14, 2008
now they r takling about cutting 10,000 jobs. are these 10,000 jobs different from the 9,100 jobs announced before?
unknown

Mesa, AZ

#3527 Nov 14, 2008
11/14/08...Has anyone heard what departments are going to be laid off yet? how about Citimortgage collections in Phoenix? So far we have heard only managers..
Sad

Brooklyn, NY

#3528 Nov 14, 2008
Reuters
Citigroup to cut at least 10,000 jobs: report
Friday November 14, 3:23 am ET

(Reuters)- Citigroup Inc (NYSE:C - News) 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.
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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.

"We will continue to carefully manage our head count levels as we re-engineer the company in line with our stated goal and market realities," Citigroup spokeswoman Christina Pretto told the paper.

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.

Citigroup aims to shrink its workforce to about 290,000 employees by next year from 352,000 as of Sept 30, the WSJ said, citing another person.

The paper also reported that Citigroup is notifying some credit card customers that their interest rates are being raised by an average of three percentage points.

A person familiar with the strategy estimated that the rate increases would apply to less than 20 percent of Citigroup's card portfolio, according to the paper.

A Citigroup spokeswoman told Reuters that she had nothing further to add to the company's comments reported by the Journal.

(Reporting by Ajay Kamalakaran in Bangalore)
Sad

Brooklyn, NY

#3529 Nov 14, 2008
Still here wrote:
now they r takling about cutting 10,000 jobs. are these 10,000 jobs different from the 9,100 jobs announced before?
Of course! They laid off 23,000 so far this year. Add 10,000 to it... probably more is coming.
laura

Stamford, CT

#3531 Nov 14, 2008
Sad wrote:
<quoted text>
Of course! They laid off 23,000 so far this year. Add 10,000 to it... probably more is coming.
any idea where? are the subsidieries being hit also? where there be any notice?
unknown

Mesa, AZ

#3532 Nov 14, 2008
Does anyone know what areas are getting laid off yet...
Mortage Chick

New York, NY

#3534 Nov 14, 2008
unknown wrote:
Does anyone know what areas are getting laid off yet...
Every department under the umbrella of CITI, Citi Financial, Citi credit cards, auto, banks every where. No one is safe for the exception of the IVORY TOWER.
From what I'm reading, CITI is not doing well at all. I think our big investor from Dubai has pulled back and no longer will be doing business with Citi. I have a funny feeling that the company is up for sale. They made a huge mistake when they bought Interfirst-Ambro! I hope they learn their lesson. Pandit is a joke, he should be the first one to GO!
Mortage Chick

New York, NY

#3535 Nov 14, 2008
Sitting By Watching wrote:
Hey Mortgage Chick - it seems you work or worked at Centennial Wholesale - what position?
Yes I'm still working until December 29th! That's when about 136 people will be let go. Do you work here in Centennial?
Sitting By Watching

Richmond, VA

#3536 Nov 14, 2008
Hey Mortgage Chick - Not anymore - I left in September when I saw the writing on the wall. Good luck to you and all my friends there in Centennial - You were a great bunch of guys to work with!!!!
who else

Fresno, CA

#3538 Nov 14, 2008
any news on the retail side?
Cguy

Sherman Oaks, CA

#3539 Nov 14, 2008
Barbaraella wrote:
Everyone in Dallas at Connect 1 is being laid off Dec 1. It is so sad. Those poor souls there. I used to work there years ago, but have remained in contact as I made good friends there. I just hope the best for everyone out here involved in this mess. Keep the faith everyone!!!
It is very sad, particularly at the holidays. Who/what will replace Connect1?
CITI_FTN

Buffalo, NY

#3541 Nov 14, 2008
Cguy wrote:
<quoted text> It is very sad, particularly at the holidays. Who/what will replace Connect1?
Press 1 for voice mail, 2 to end the call?
Sad

Brooklyn, NY

#3542 Nov 14, 2008
laura wrote:
<quoted text>
any idea where? are the subsidieries being hit also? where there be any notice?
NEW YORK, Nov 14 (Reuters)- Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) is expected to soon announce job cuts amounting to about 10 percent of the company's workforce, a person familiar with the matter said on Friday.

Citigroup had 352,000 employees at the end of September. Job cuts will come through measures including layoffs and selling units, the person said.

Citigroup is planning a town hall meeting for employees on Monday, the person said.(Reporting by Dan Wilchins)
boomboom

Saint Petersburg, FL

#3543 Nov 14, 2008
Anyone knows if miami branches will get cut. Im a second generation cuban. Think Fidel would have done a better job than the clowns who run Citi.
Patriot Guy

United States

#3545 Nov 14, 2008
Citi isn't the clown. It's the workers who are lazy. I am a proud manager who agree with cuts. Too many folks not doing their job. I am proud to be American. You must be an Obama Supporter. D*** Socialist:(
Barney Rubble

Mexico

#3546 Nov 14, 2008
any word for smith barney in Owings mills MD
boomboom

Columbia, SC

#3547 Nov 14, 2008
Patriot Guy wrote:
Citi isn't the clown. It's the workers who are lazy. I am a proud manager who agree with cuts. Too many folks not doing their job. I am proud to be American. You must be an Obama Supporter. D*** Socialist:(
Patriot,
You must be one of the "original" americans who have brought this country to this sad state of affairs. Yes I voyed for change not Obama.....any change from the tyranny of Bush and Cheney.
Democrat

Warren, NJ

#3548 Nov 14, 2008
Dier Patriot, just relax and wait until they cut you. Then we will talk about American values.

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