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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4 Comments on "Citigroup to cut 11,000 jobs, take $1 billion in charges"

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deepthinker
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deepthinker
December 5, 2012 4:18 pm

barry economics hard at work and this announcement proves it.

jcrowley1985
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jcrowley1985
December 5, 2012 9:42 am

More Corporate Greed.

poppajoe49
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poppajoe49
December 5, 2012 7:45 am

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

Bonfire of the Absurdities
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December 5, 2012 7:38 am

“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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