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January 15, 2008

Citigroup fires 17,000 people

Citigroup will reduced workforce by 17,000 to 24,000 employees, and it will take writedown of up to $24 billion, CNBC says.

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2 Responses to “Citigroup fires 17,000 people”

  1. REBUSiness Says:

    Indeed, workforce cutdown seems inevitable and the only significant source of cost reduction but except of the financial impact what about the work load left behind? Because I can’t think of 17,000 employees’ workload going on the shoulders of employees who stay back.

    Thank you

  2. The What Girl Says:

    Believe me my friend…. if they did have a job to do, then they would definitely keep on doing it!

    🙂

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