Citigroup to cut 11,000 jobs, take $1 billion in charges

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Citigroup to cut 11,000 jobs, take $1 billion in charges. Citigroup Inc will dump 11,000 jobs in order to save as much as $1.1 billion a year. Just in time for the Christmas of recovery.

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Contributed on December 5, 2012 by CO2Insanity, who has submitted 2535 posts. Author's website.

{ 4 comments… read them below or add one }

Bonfire of the Absurdities December 5, 2012 at 7:38 am: Rated Awesome! What do you think? 7 0

“As it continues to focus on 150 high-growth markets, it plans to shed 84 branches in five countries, more than half of them in the United States.”

It sounds like they are not expecting much growth in the US, in spite of Helicopter Ben’s continued Queasing. So issuing debt with one hand and printing money to buy it with the other doesn’t produce a whole lot of growth? Who’d a thunk it.

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poppajoe49 December 5, 2012 at 7:45 am: Rated Awesome! What do you think? 7 0

Recovery? I don’t see no steenkin’ recovery!

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jcrowley1985 December 5, 2012 at 9:42 am: Poorly Rated. Do you Like or Dislike? 0 10

Hidden due to low comment rating. Click here to see.

More Corporate Greed.

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deepthinker December 5, 2012 at 4:18 pm: Like or Dislike: 3 0

barry economics hard at work and this announcement proves it.

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