Citigroup Inc. is cutting approximately 53,000 more jobs in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.The plans, posted on the company's Web site, are being discussed by CEO Vikram Pandit at the company's town hall meeting in New York Monday with employees.
The company said total headcount is being reduced by 20% from its peak of 375,000 at the end of 2007; the company had already announced in October that it was eliminating about 22,000 jobs from those levels. The total workforce reductions include thousands of jobs that will be lost when Citigroup completes the sale of Citi Global Services and its German retail banking business.
Showing posts with label unemployment. Show all posts
Showing posts with label unemployment. Show all posts
Monday, November 17, 2008
Citigroup Cuts More than 50,000 Jobs
Time:
Friday, November 7, 2008
News Briefs, 11/07/08
Obama wins North Carolina, becoming the first Democrat to carry the state since Carter.
Iranian President, Ahmadinejad congratulates Obama. It was the first time since Iran's 1979 Islamic revolution that an Iranian leader congratulated an American president-elect.
US records highest unemployment rate in 14 years - 6.5%.
Here's a compilation of news articles on Obama's White House team.
Coleman's lead over Franken gets smaller even before the recount starts in Minnesota. Coleman leads by 236 votes.
Will Obama campaign manager David Plouffe replace Biden in the Senate?
Democratic challenger's lead over Virgil Goode increases in Virginia's 5th district.
Democrat Kratovil extends lead in Maryland's first disrtrict.
Iranian President, Ahmadinejad congratulates Obama. It was the first time since Iran's 1979 Islamic revolution that an Iranian leader congratulated an American president-elect.
US records highest unemployment rate in 14 years - 6.5%.
Here's a compilation of news articles on Obama's White House team.
Coleman's lead over Franken gets smaller even before the recount starts in Minnesota. Coleman leads by 236 votes.
Will Obama campaign manager David Plouffe replace Biden in the Senate?
Democratic challenger's lead over Virgil Goode increases in Virginia's 5th district.
Democrat Kratovil extends lead in Maryland's first disrtrict.
Sunday, October 26, 2008
News Briefs, 10/26/08
With an unemployment rate of 8.8%, Rhode Island has the highest rate of joblessness in the country.
State officials in North Carolina reported late last week that more than 800,000 people had already cast their ballots.
Obama responds to McCain campaign's insinuations that his campaign hacked into Joe the Plumber's private files.
Why hasn't Condoleeza Rice endorsed McCain?
McCain-Palin target "Uncle Frank" for his statements on spending and taxes.
Scientist develop purple tomatoes which they hope will keep cancer at bay.
State officials in North Carolina reported late last week that more than 800,000 people had already cast their ballots.
Obama responds to McCain campaign's insinuations that his campaign hacked into Joe the Plumber's private files.
Why hasn't Condoleeza Rice endorsed McCain?
McCain-Palin target "Uncle Frank" for his statements on spending and taxes.
Scientist develop purple tomatoes which they hope will keep cancer at bay.
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