Citigroup job cuts!
 

53,000 jobs cut worldwide, that's 20%!!

How can they cut that many positions and not lead people (the public) to believe they weren't padding the employment figures all along. That's a lot of people on smoke break. They must have a lot of folks sitting around doing nothing, NAFT!!

Goldman top six to forego bonus - so they just take their $600,000 for the year and be happy, should I feel sorry??

Poor management across the board!!

HAHAHA!

My investments teacher is heavily invested in them. We give him **** about it all the time :). (Hindsight is 20/20 I guess).

Chances are they were doing something, hey maybe even full time work. But, for image sake they just cut the jobs and expect the workers who are left to pick up the slack. That works to a certain extent, then the quality of the work starts to slide as it becomes physically impossible to get all of it done. Then they hire back the workers (sometimes the same ones) through temporary agency's at a higher cost. My wife is seeing it firsthand.

Citigroup is so big and dumb they can't get out of their own way - their left hand doesn't know what their right hand is doing. I recently took a personal loan with them, then paid it off with a 0% balance transfer onto one of their own cards, effectively letting me control a few thousand in cash with no interest or downside.

Once a financial institution gets past a certain "critical mass" I'm convinced their inefficiency rises exponentially to their size. Yet they all keep striving to get bigger for whatever reason...

The best banks are the local, conservative ones and the credit unions (where I do 99% of my stuff anyway).

I know what you mean. They just sent me another Mastercard, same number just upgraded card. I asked what the added benefits were and they said that I can now buy coupons for daily membership in the Admiral's Club, what a deal. Buy coupons?? All because I pay my balance on time, aren't I a lucky guy!!