Its not 10,000, it's 50,000.

[Bindare_Dundat]

Citigroup to cut more than 50,000 jobs

New York City-based bank unveils massive layoff plan -- the latest step by the embattled firm to slim down in response to the economic slowdown.

NEW YORK (CNNMoney.com) -- Citigroup said Monday it planned to cut more than 50,000 jobs, the latest move by the struggling bank to cut costs in order to weather the credit crisis plaguing Wall Street.

In an investor presentation on its Web site, the company said it would reduce its staff levels to approximately 300,000 employees. As of the end of September, the New York City-based bank had about 352,000 workers.

[Decker]

Citigroup to cut more than 50,000 jobs

New York City-based bank unveils massive layoff plan -- the latest step by the embattled firm to slim down in response to the economic slowdown.

NEW YORK (CNNMoney.com) -- Citigroup said Monday it planned to cut more than 50,000 jobs, the latest move by the struggling bank to cut costs in order to weather the credit crisis plaguing Wall Street.

In an investor presentation on its Web site, the company said it would reduce its staff levels to approximately 300,000 employees. As of the end of September, the New York City-based bank had about 352,000 workers.

There's just no good way to spin this.  This trend will continue for another year.

[Dan-O]

There's just no good way to spin this.  This trend will continue for another year.

Ummm...  the country's in a rebuilding phase?  That's what sports teams call it when they have a sucky season.

[Decker]

Ummm...  the country's in a rebuilding phase?  That's what sports teams call it when they have a sucky season.

Lovely.  You put dinner on the table, pay your insurance premiums so they don't lapse, meet your mortgage payments, credit card payments, car payments, heating bills, water bills, house taxes, etc. WITH NO FUCKING JOB.

So much for your pithy rebuilding phase.  It's a fucking disaster.

Don't worry boys, we have next season to rebound....well, no you don't.

You missed your mortgage payment and you can now live in your car...until that is repossessed.  And thanks to the republicans, you can't discharge your credit card debt in bankruptcy.

[Soul Crusher]

There's just no good way to spin this.  This trend will continue for another year.

Many people in Westchester are going to get it bad.  i spoke to one guy I know who lives in Scasdale who thinks he is going to lose his job over there.  His son works there too.

[shootfighter1]

I heard Japan's is experiencing some economic hardships as well with some impressive losses for the 3rd quarter.

[Soul Crusher]

I heard Japan's is experiencing some economic hardships as well with some impressive losses for the 3rd quarter.

Although things are slower for my business, I thank God I work for myself and dont rely on these corporate slave masters for my livlihood.

[Slapper]

Many people in Westchester are going to get it bad.[...]

Do tell please (I live in Westchester county).

[Soul Crusher]

Do tell please (I live in Westchester county).

I live in yonkers and know many people who work for Citibank who are probably going to get let go.  A lot of people who live in Weestchester work for Citi and commute to eh city to work there.

[24KT]

I heard Japan's is experiencing some economic hardships as well with some impressive losses for the 3rd quarter.

Japan, the 2^nd largest economy in the world just officially used the 'R' word, releasing a statement saying they are officially in a recession.