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Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
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[quote:Anonymous Coward 24473407:MV8yMDcxNjMwXzM0ODY4MTQ4XzQ0NkVGMjg4] Yahoo tells me that housing has recovered, so it is so. I believe every word from the media. -sheeple #23424029549349399392 [/quote]
Original Message
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link to www.bloomberg.com
]
Citigroup Inc. (C), the third-biggest U.S. bank, said it will take a pretax charge of about $1 billion this quarter as part of a plan to eliminate more than 11,000 jobs.
“These actions are logical next steps in Citi’s transformation,” Chief Executive Officer Michael Corbat said today in a statement. “While we are committed to -- and our strategy continues to leverage -- our unparalleled global network and footprint, we have identified areas and products where our scale does not provide for meaningful returns.
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