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Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 24637305:MV8yMDcxNjMwXzM0ODY4NDg4X0VFMTA3RjZG] [quote:SomaComatose:MV8yMDcxNjMwXzM0ODY1MDc4XzlDRUIxM0Ex] Look, These jerks were going to fail regardless of who is President. They ripped off people for YEARS thanks to DEREGULATION the REPUBLICANS pushed through and now they are paying for years of greed. They get what's coming to them. It's like all the jerk Republicans that own businesses that are laying people off just because they lost. Do they really think that's going to make them more popular with the people? I hope not, because if they do they are more delusional than I thought they were. Mankind CANNOT live without regulation. If there are no controls and rules we go nuts. That's what's happening now. Deregulation has killed the media. It's the same bland bullshit no matter what market you are in because 4 Companies own every damn radio/tv station in the USA. There's no competition, so they fired everyone, went automated and all the radio stations play the same shit day in and day out. It's also why the news on TV sucks so bad. They tell you what they want you to hear, not what you want and need to know. Which is why they want the internet censored. If they have their way, we won't be able to post stuff like this anymore. :rant: [/quote] Looks like somebody has been hanging around the Idiot Box too long. :burnit: [/quote]
Original Message
[
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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