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Eugene

(61,900 posts) Wed Dec 5, 2012, 10:15 AM Dec 2012

Citigroup to cut 11,000 jobs worldwide, 4 percent of workforce

Source: Reuters

Citigroup to cut 11,000 jobs worldwide, 4 percent of workforce

Wed Dec 5, 2012 9:10am EST

(Reuters) - Citigroup Inc will eliminate 11,000 jobs worldwide, about 4 percent of its total staff, in a move to save as much as $1.1 billion a year in expenses, the company said on Wednesday.

The move will initially result in pre-tax charges of $1 billion to fourth quarter earnings, the company said in a statement.

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3 replies

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Citigroup to cut 11,000 jobs worldwide, 4 percent of workforce (Original Post) Eugene Dec 2012 OP

Thank God it passed! n/t Egalitarian Thug Dec 2012 #1

How long before they ProSense Dec 2012 #2

Fuck them. They are quaking for EW! lonestarnot Dec 2012 #3

Egalitarian Thug

(12,448 posts)

1. Thank God it passed! n/t

Reply to Eugene (Original post)

Wed Dec 5, 2012, 10:24 AM

Dec 2012

ProSense

(116,464 posts)

2. How long before they

Reply to Eugene (Original post)

Wed Dec 5, 2012, 10:27 AM

Dec 2012

"Besides the job cuts, the reorganization will reduce annual revenues by 'less than $300 million,' the statement said."

...run out of business? Will anyone shed a tear?

lonestarnot

(77,097 posts)

3. Fuck them. They are quaking for EW!

Reply to Eugene (Original post)

Wed Dec 5, 2012, 10:28 AM

Dec 2012

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