Singapore News

News from Singapore

Citigroup staff facing massive layoffs

Posted by jtsmyth8 on January 16, 2008

Some local staff from the corporate and treasury divisions have already been shown the door – part of the first wave of 4,000 sackings from Citi’s global workforce of 375,000.

Anxious staff told the Straits Times they are also expecting the knife to be taken to their bonuses, which are to be announced soon.

‘Bonuses will probably be announced next week, but nobody is expecting good [ones]. Expectations have been moderated,’ said a senior Citi executive.

‘Bonus?’ said a bank researcher in his 40s, ‘if you’re not laid off, that will be a bonus.’ (story)

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2 Responses to “Citigroup staff facing massive layoffs”

  1. […] post by jtsmyth8    Posted in 14222   […]

  2. euandus3 said

    Thanks for you post. Very interesting. I have a few posts on the topic, in case you are interested.

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