15000 employees losing jobs at Citibank


	15000 employees losing jobs at Citibank

willhelm

3-4-2008 6:11 PM

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/8b89b304-bb7d-41e5-9a10-4b49e46cd176/B789A1AD-7778-482B-9F5C-906164C9C15E/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://media.www.thecowl.com/media/storage/paper493/news/2007/03/29/World/Citibank.May.Cut.At.Least.10000.Jobs-2812997.shtml" href="http://media.www.thecowl.com/media/storage/paper493/news/2007/03/29/World/Citibank.May.Cut.At.Least.10000.Jobs-2812997.shtml" style="font-size: 11px;">media.www.thecowl.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://media.www.thecowl.com/media/storage/paper493/news/2007/03/29/World/Citibank.May.Cut.At.Least.10000.Jobs-2812997.shtml">
The world's largest bank is planning to fire 15,000 employees. Citigroup will cut its global workforce by five percent to satisfy investors' demands to make the company more efficient and help reduce recent profit losses.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://media.www.thecowl.com/media/storage/paper493/news/2007/03/29/World/Citibank.May.Cut.At.Least.10000.Jobs-2812997.shtml"><DIV>With the cuts, Citigroup hopes to save about $1 billion of its annual cost. The bank is planning to shift its focus to international operations as it realizes India is its biggest driver of growth. </DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://media.www.thecowl.com/media/storage/paper493/news/2007/03/29/World/Citibank.May.Cut.At.Least.10000.Jobs-2812997.shtml"><DIV>The cuts will fall mostly in the cities of New York, London, and Hong Kong, where operating costs are high and a larger percentage of the company's workforce is located.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B789A1AD-7778-482B-9F5C-906164C9C15E/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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