Citibank lays off 11,000

Mar 2012
23,007
3,830
Gone
#2
I'm sure it was a very hard Decision, one that I fear I will have to make within the next couple months. Hopefully they get something done in Washington soon!
 
Mar 2010
20,603
13,658
Indiana
#3
It's all about stockholders -- screw the employees. I wonder how many of the remaining employees will do the work of a canned employee along with their original duties at the same pay level, while the CEO is living high on the hog and will be rewarded handsomely for this?
 
Mar 2010
20,603
13,658
Indiana
#4
I'm sure it was a very hard Decision, one that I fear I will have to make within the next couple months. Hopefully they get something done in Washington soon!
A hard decision? How do you know that? You really think it's a hard decision for a guy that makes 1.1 million a year in a salary with perks?
 
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Mar 2012
58,026
39,582
New Hampshire
#5
I'm sure it was a very hard Decision, one that I fear I will have to make within the next couple months. Hopefully they get something done in Washington soon!
Yea a lot of the companies around here are talking about high numbers of layoffs next year. Pretty scary stuff.
 
Mar 2010
20,603
13,658
Indiana
#6
Yea a lot of the companies around here are talking about high numbers of layoffs next year. Pretty scary stuff.
Why?

My dad overheard a guy at the local fitness center complaining he was gong to have to lay off workers due to "Obama care." When my dad asked him how many employees he had it turned out he didn't have enough to even have to comply to the new mandate. The guy had been listening to FOX news which conveniently left out the stipulation about the number of employees need to have to comply.
 
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Mar 2012
58,026
39,582
New Hampshire
#7
It's all about stockholders -- screw the employees. I wonder how many of the remaining employees will do the work of a canned employee along with their original duties at the same pay level, while the CEO is living high on the hog and will be rewarded handsomely for this?
The current CEO is new, the former one Pandit left abrubtly without saying why. Seems he and a few execs left with big payouts and are banned from working at other companies.

Citi’s Pandit to leave with $15m payout - FT.com
 
Mar 2012
58,026
39,582
New Hampshire
#8
Real reason? Who knows, some companies are laying off even though demand is up. Our neighbor is working 12 hours a day they have a lot of work but are laying off. A lot of them are complaining about the 3% Obamacare tax, property tax increases etc. I am sure if the tax rate goes up on the wealthy they will kick layoffs into high gear. After all the CEOs have to keep up with the Joneses. Those $60,000 shower curtains aren't getting any cheaper!
 
Mar 2012
23,007
3,830
Gone
#10
A hard decision? How do you know that? You really think it's a hard decision for a guy that makes 1.1 million a year in a salary with perks?
Yes of course it would be a hard decision, they are human too, I seriously doubt that they have been waiting until Christmas just to do this in order to make people's lives miserable. There are two sides Too every story, I'm sure that they had to do this or shut the whole damn thing down. 1.1 million is not enough to support 11,000 jobs if that is where you're going with this
 

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