Citigroup Expected To Lay Off As Much As 10% Of Work Force-CNBC

[swag]

Source: Dow Jones

NEW YORK -(Dow Jones)- Citigroup is expected to cut jobs, CNBC's Charlie Gasparino reported Wednesday, although he did not specify when the layoffs would occur.

According to Gasparino's internal sources at Citi, the financial firm is expected to lay off 5% to 10% of its work force, which would account for as many as 32,000 employees.

Citigroup shares were down 4.8% at $31.64 in recent trading.


Read more: http://money.cnn.com/news/newsfeeds/articles/djf500/200712121344DOWJONESDJONLINE000839_FORTUNE5.htm

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via Eschaton

[thunder35]

1. so unemployment will go up after next yrs election

[ORDagnabbit]

5. shhhh dont contridict big brother...unemployment never goes up, everything is fine

we stopped reporting M3 just because.....


please go about your business citizen nothing you need to see here.

[stillcool]

2. That should be a boost...

for the economy. I hear every time a worker gets laid off, a stock-market angel gets it's wings.

[BeHereNow]

3. Crap...I'm worried about my sister.

She bought a house, etc... has house payments due
every month and all. She has been with the company
for decades and has watched her friends all get
fired over the last five years.
I'm praying she doesn't lose her job-
it would destroy her financially and emotionally.
Not that Citigroup cares.

BHN

[swag]

6. I hope she hangs in.

[BeHereNow]

7. Thanks, so far she's still standing.

I just wonder for how much longer.
Seriously, all of her friends have been laid off.
People with YEARS in the company, just like her.
She would be devasted if they fired her.
She has put her entire life into her job.
Never married, no kids- works like a dog
for them, not that it matters to them.
Fuckers.

BHN

[EVDebs]

4. All in the US or will that include the outsourced jobs already overseas ? eom

[OhioChick]

10. Only the Murikan Jobs. n/t

[bluestateguy]

8. I guess I shouldn't have paid off my CitiCard bill

They don't make money off of people paying off their balances.

[Sen. Walter Sobchak]

9. PLEASE start with Primerica!

There has to be atleast 32,000 of those assholes