VoyForums
[ Show ]
Support VoyForums
[ Shrink ]
VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, [2] ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 11:40:15 11/16/11 Wed
Author: OL
Subject: Citigroup to cut 3000 jobs...
In reply to: Overlord... 's message, "Welcome to Depression" on 08:23:43 11/04/11 Fri

Citigroup to cut jobs, total could top 3,000

Citigroup In (NYSE:C)c may cut "slightly more" than 3,000 jobs, becoming the latest U.S. bank to eliminate positions, a source familiar with the matter said.

The cuts would include jobs eliminated as a result of re-engineering and divestitures. The details are still being worked out.

"As part of our ongoing efforts to control expenses, we are making targeted headcount reductions in certain businesses and functions across Citi," Citigroup said in a statement on Wednesday.

At the Bank of America Merrill Lynch financial services conference, Citi's Chief Financial Officer John Gerspach said every Citigroup unit is expected to create 3 percent to 5 percent in cost savings each year and the bank was working to rein in expenses.

Citigroup's shares were down 2 percent on Wednesday, or 56 cents, at $27.46 on the New York Stock Exchange.

(Reporting by Joe Rauch in Charlotte, North Carolina and Jessica Dye in New York)

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Replies:

  • Mortgage applications FALL... -- OL, 11:44:30 11/16/11 Wed
    [ Contact Forum Admin ]

    Forum timezone: GMT-6
    VF Version: 3.00b, ConfDB:
    Before posting please read our privacy policy.
    VoyForums(tm) is a Free Service from Voyager Info-Systems.
    Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved.