Godlike Productions - Conspiracy Forum
Users Online Now: 2,564 (Who's On?)Visitors Today: 1,505,337
Pageviews Today: 2,363,023Threads Today: 730Posts Today: 16,239
07:31 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Citigroup to cut 11.000 jobs. Just breaking. Recovery is great

 
Limpan
Offer Upgrade

User ID: 1474973
Sweden
12/05/2012 09:16 AM

Report Abusive Post
Report Copyright Violation
Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
[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.


hiding
Limpan (OP)

User ID: 1474973
Sweden
12/05/2012 09:17 AM

Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Thanks for another pin

hf
Anonymous Coward
User ID: 24046300
United States
12/05/2012 09:20 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Is this when O says that the economy is Roaring back?
Limpan (OP)

User ID: 1474973
Sweden
12/05/2012 09:20 AM

Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Citigroup today announced a series of repositioning actions that will further reduce expenses and improve efficiency across the company while maintaining Citi’s unique capabilities to serve clients, especially in the emerging markets. These actions will result in increased business efficiency, streamlined operations and an optimized consumer footprint across geographies.

Michael Corbat, Citi’s Chief Executive Officer, said, “These actions are logical next steps in Citi's transformation. 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. And we will further increase our operating efficiency by reducing excess capacity and expenses, whether they center on technology, real estate or simplifying our operations.”

Due to this repositioning, Citi expects to record pre-tax charges of approximately $1 billion in the fourth quarter of 2012 and approximately $100 million of related charges in the first half of 2013. Citi currently expects that the repositioning will generate $900 million of expense savings benefitting 2013 results and that the annual expense savings will exceed $1.1 billion annually beginning in 2014. Citi also expects the repositioning actions to have a negative impact on annual revenues of less than $300 million. These actions will result in a reduction of more than 11,000 positions.

Citi expects the repositioning activity to affect the following businesses and functions:


Read more: [link to www.businessinsider.com]
av
User ID: 29133791
United States
12/05/2012 09:21 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
I like that, "we have identified products and areas that provide no meaningful return."
MultiStrada

User ID: 25674130
United States
12/05/2012 09:22 AM

Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
People still think we haven't already gone over the fiscal cliff?

If it looks and quakes like a duck.hiding
Anonymous Coward
User ID: 24516340
United States
12/05/2012 09:23 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Babylonia is falling
Anonymous Coward
User ID: 658249
Netherlands
12/05/2012 09:23 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
they created money out of thin air, that's what they needed them ppl for.
VeranidaeI'm
User ID: 26743899
United States
12/05/2012 09:23 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Were they one of the large banks that received bailout cash? I'm guessing there were a few politicians who knew about these job cuts in advance. Will it affect the stock prices positively? If so, the same politicians will be sitting fat, as always.
Anonymous Coward
User ID: 1015009
United States
12/05/2012 09:24 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
citigroup is a racist company.
Anonymous Coward
User ID: 29096459
United States
12/05/2012 09:25 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Well when drug companies are laying off thats another not so good sign too.

[link to seattletimes.com]

[link to medcitynews.com]

[link to www.bizjournals.com]


Saw where Bank of America is laying off 200 in Massachusetts

Dailyjobcuts.com just keeps on posting more and more.Pretty soon there wot be anything left.
Anonymous Coward
User ID: 29134474
United States
12/05/2012 09:27 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
UBS recently fired 50,000 people.
Anonymous Coward
User ID: 27235266
United States
12/05/2012 09:30 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Due to technology one has to wonder if banks will even be needed in the future for basic transactions. We can use our smartphones for depositing checks and use a debit card for most transactions. Why wouldn't banks be streamlining their services when more and more transactions can be automated!
MultiStrada

User ID: 25674130
United States
12/05/2012 09:32 AM

Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Doesn't Citi do the EBT cards?
Anonymous Coward
User ID: 7768903
United States
12/05/2012 09:33 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
[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.


hiding
 Quoting: Limpan


[link to www.dailyjobcuts.com]

Recovery 101

No Recovery

hiding
Anonymous Coward
User ID: 29096459
United States
12/05/2012 09:33 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Doesn't Citi do the EBT cards?
 Quoting: MultiStrada


jpmorgan chase I think do those
samanthasunflower

User ID: 14930415
United States
12/05/2012 09:35 AM

Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Remember in the good old days when companies would wait until Christmas was over before handing out pink slips?

violin
Anonymous Coward
User ID: 18951906
United States
12/05/2012 09:37 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Expect A LOT more layoffs soon.

The suits who write this press release shit sound like they could justify murdering 11,000 people if they just word it right:

Citigroup feels their cremated remains of of our 11,000 terminations will not only save revenue for our shareholders, further help expand our global foot-print while at the same time emphasize our commitment to compassion when dealing with our employee family and the public.
BossPickupTrucks
User ID: 2530630
United States
12/05/2012 09:37 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Barak obama said that job growth will be based on CERTAIN jobs. I think this is part of the realignment of jobs to further compartmentalize the world market creating international dependence never seen before.
SomaComatose
Everything You Know Is WRONG.

User ID: 29133581
United States
12/05/2012 09:37 AM

Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
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

Last Edited by Mister Shadow on 12/05/2012 09:40 AM
I have so much debt, I can start a government.
Question EVERYTHING

User ID: 29020415
United States
12/05/2012 09:39 AM

Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Ya, they are running out of ways to fuck people out of their money so in order to maintain the extravagant life styles that the top 2% have, you need to get rid of the low level minions....

Scum of the earth...
RIP Dimebag Darrell

"The exact level of tyranny that you're going to live under, is the level of tyranny you put up with." ~Thomas Jefferson

"All tyranny needs to gain a foothold is for people of good conscience to remain silent. ~ Thomas Jefferson
Anonymous Coward
User ID: 2712120
United States
12/05/2012 09:40 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Is this when O says that the economy is Roaring back?
 Quoting: Anonymous Coward 24046300


No, this is O's "fisal cliff" and PROVES "rich people are just evil...." cause they want to save themselves $$$ on tax rules. Oh, the evilness of THAT!
Anonymous Coward
User ID: 29122756
Switzerland
12/05/2012 09:44 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Is this when O says that the economy is Roaring back?
 Quoting: Anonymous Coward 24046300


No it's the part "the best ist yet to come" chuckle
AlcoholicRunner
I abduct humans and drink at the same time.

User ID: 23182389
United States
12/05/2012 09:45 AM

Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
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
 Quoting: SomaComatose


Bullshit33

Typical libtard lies as usual.
DarthDickheadus:Ameri​canSith

User ID: 1503533
United States
12/05/2012 09:46 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Doesn't Citi do the EBT cards?
 Quoting: MultiStrada


jpmorgan chase I think do those
 Quoting: Anonymous Coward 29096459


Citi is big into the student loan bullshit.
(GLP aka American Jedi)

Listen here you beautiful bitch, I'm about to fuck you up with some truth.
Kenny Powers

If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare.
American Jedi

Intellectuals solve problems, geniuses prevent them.
Albert Einstein

Satis Eloquentiae, Sapientiae Parum....

"The last of the old?"

"No, the first of the new."
Anonymous Coward
User ID: 7422178
United States
12/05/2012 09:46 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
there is not enough jobs for 300 million people, get over that fact...


there are thousands of useless jobs out there, they will end.


for profit banks are corrupt and they will fall.
Anonymous Coward
User ID: 14564403
United States
12/05/2012 09:46 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
About 3% of their employees.
Anonymous Coward
User ID: 7422178
United States
12/05/2012 09:47 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
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
 Quoting: SomaComatose





hf
Anonymous Coward
User ID: 27800002
United States
12/05/2012 09:48 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
In an effort to make robbery more efficient and cost-effective.
Anonymous Coward
User ID: 801546
United States
12/05/2012 09:48 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
Is this when O says that the economy is Roaring back?
 Quoting: Anonymous Coward 24046300




Really? Why are you all on GLP still blaming Obama?

With all your Planet X, 2012 End of the WOrld, Reptillian Overlords, Elenin doom crap, you guys are missing the one conspiracy that actually is REAL.

You know, about the Elite circles who have wealthy and influence far beyond just.....wealth and influence.

The same people who put Bush in , are the same people who put Obama in. They don't care about America. They are international, and they are in the business of making MONEY.




It is so silly, you guys focus all your attention and hate on the PUPPET, just like they want you to.
Anonymous Coward
User ID: 28372437
United States
12/05/2012 09:55 AM
Report Abusive Post
Report Copyright Violation
Re: Citigroup to cut 11.000 jobs. Just breaking. Recovery is great
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
 Quoting: SomaComatose

Thank you left/right moran.
Clinton suspended the Glass/Steagell Act.

News