Gothamist: Citibank to Cut Up to 50,000 Jobs

Future Taliban

Mon, 17 Nov 2008 15:29:29 -0500

Poor, poor bankers. My heart goes out to you: http://uk.youtube.com/watch?v=vuBChDTEea8

tingo

Mon, 17 Nov 2008 15:18:58 -0500

They all saw this coming. Or should have. They laughed at it: http://uk.youtube.com/watch?v=2I0QN-FYkpw

Brooklynbobby

Mon, 17 Nov 2008 13:05:09 -0500

Citibank can afford to let at least 1/2 of the staff go. I worked there for a year about 10 years ago. I had to quit because I was going crazy with nothing to do.

EastRiver

Mon, 17 Nov 2008 12:34:00 -0500

Citigroup only needed to fire one person. Are you hearing this Mr Pandit? Can we go hunt down Sandy Weill while we're at it? Look for him at a naming ceremony at a university, hospital, or some other building where he used our money to buy his name in stone.

NannyState

Mon, 17 Nov 2008 11:07:28 -0500

Citigroup only needed to fire one person. Are you hearing this Mr Pandit?

Rocknrope

Mon, 17 Nov 2008 10:44:14 -0500

^ More like Bartertown. We've already got the cage - two men enter, one man leave.

JacqueMehoff

Mon, 17 Nov 2008 10:43:58 -0500

so no one is losing their job, they're just losing their assets. plain English please.

GM

Mon, 17 Nov 2008 10:43:25 -0500

Assets shmassets. They've laid off all the low hanging fruit at this point, now they're 'selling' whole divisions or 'assets' as they call them. Who's going to buy them---if they were an asset they probably wouldn't be selling them, would they?

r1b2

Mon, 17 Nov 2008 10:28:44 -0500

Armageddon's coming.

Wza

Mon, 17 Nov 2008 10:20:20 -0500

I still say the Mets should've named their stadium after Met Life.

Jen Chung

Mon, 17 Nov 2008 10:04:43 -0500

@repsandwarrants--thanks, I'm making that distinction in the post.

repsandwarrants

Mon, 17 Nov 2008 09:50:53 -0500

much of the job cuts are coming in the form of asset sales. It is misleading to label these as layoffs. Citigroup will have 50,000 less people on their payroll, but not all 50,000 will lose their jobs. Assuredly whoever owns the sold off assets will lay some people off, but this article makes it seem that everyone associated with these assets will be jobless.

longacre

Mon, 17 Nov 2008 09:50:35 -0500

#1: Perhaps they would be boarding up the Citigroup Center rather than just laying people off without the bailout.

citizenerased

Mon, 17 Nov 2008 09:39:11 -0500

BBC says 75,000.

tingo

Mon, 17 Nov 2008 09:17:44 -0500

Wonder what this will mean for the 'unshakeable' nyc real estate market. The system was bled to it's last drop, and I suppose we all have to pay now.

ides_of_march

Mon, 17 Nov 2008 08:55:48 -0500

I'm so glad that bail out worked. At least the big execs will get their huge bonuses and luxury spa trips.