We saw this article on Yahoo.com
Citigroup to Cut 17,000 Jobs
Wednesday April 11, 1:00 pm ET
By Eileen Alt Powell, AP Business Writer
Citigroup to Eliminate 17,000 Jobs As Part of Cost-Saving Restructuring
NEW YORK (AP) — Citigroup Inc., the nation’s largest financial institution, said Wednesday it will eliminate about 17,000 jobs as part of a companywide restructuring to reduce costs and improve profit.That amounts to about 5 percent of the bank’s 327,000-strong work force. Citigroup said its plans include “shrinking the size of corporate centers,” several of which are in New York. It also expects to move some 9,500 jobs to lower-cost locations.Still, the elimination of the jobs won’t reduce the bank’s work force, but merely slow its growth, Citi executives said.Robert Druskin, Citi’s chief operating officer who developed the restructuring plan over the past three months, told a conference call with Wall Street analysts they should expect Citi’s headcount to grow this year because of acquisitions and plans to open new branches, especially overseas.”But that rate of growth will be at a significantly diminished rate,” Druskin said.For the rest of this article visit Yahoo.com http://www.citigroup.com
Take to heart what Corra advises–check them out before you hire.