Profile picture for Aldreth

CITI laying off 30,000 people

cnbc...

 

permanent lay offs.

  • March 04 2008 - US
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Answers (6)

link?

  • March 04 2008
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Profile picture for Aldreth

Citigroup's job cuts could reach 30,000 or more

 

"Citigroup's job cuts could reach 30,000 or more over the next year and a half because of increasing writedowns from subprime-related debt, CNBC has learned."

  • March 04 2008
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Profile picture for klarek the realist

That's just brutal.

  • March 04 2008
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Profile picture for Aldreth

I'm quite positive its much worse than reported. CITI has been hit very hard from sending out credit cards to everyone and their 18 year old kid. Whom are mostly defaulting and heading straight for bankruptcy court.

  • March 04 2008
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Profile picture for rak0t

More foreclosures in Manhatten :)

  • March 04 2008
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Profile picture for wrstandi

Yeah, Citibank would give a loan to anyone.  I went through a phase where I borrowed money and earned interest on it.  At one point, Citibank gave me loans such that my monthly payments exceeded my income.  Granted, my credit score was 807 (before maxing out loans) and I planned to invest this money but Citibank never asked me that.  They just wrote me a check and then sent me offers to refinance it for even longer.

  • March 04 2008
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