Citigroup to cut more than 11,000 jobs

By Christina Rexrode

Associated Press

Published: Wednesday, Dec. 5 2012 9:50 a.m. MST

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Summary

Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4 percent of Citi's workforce of 262,000.

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There You Go Again

Saint George, UT

The $900,000,000 "saved" should just about take care of this years bonus.

Next up...

Strip healthcare and "pension" benefits from remaining workers.

Perfect.

8:37 a.m. Dec. 5, 2012
Top comment

lket

Bluffdale, UT

so true. and when a ceo almost ruins a company they get 10 million upon leaving. it is about the top 1% the profit in bad times or good and the working class pays for it in many ways. banks and war debt have almost ruined our country but the oil More..