Any idea how many of these job cuts are from Singapore.?
Citigroup cuts nearly 30,000 jobs in second quarter
18 Jul 2009, 1410 hrs
NEW YORK: Citigroup has slashed nearly 30,000 jobs in the second quarter of this year as the banking major resorted to cost cutting measures to
tackle the financial turmoil.
The banking behemoth has swung into a profit of $4.28 billion in the second quarter on the back of a gain of $6.7 billion from the stake sale of Smith Barney brokerage.
According to the company, in the second quarter, the number of employees stood at around 2,79,000.
"Head count declined by approximately 30,000 from the first quarter of 2009, to 2,79,000, mainly driven by Smith Barney transaction," Citigroup said while announcing the second quarter results today.
"Head count is now approximately 96,000 below peak levels. June was the 20th consecutive month of head count decline," the statement said.
In the second quarter of last year, the company had a loss of $2.49 billion, it said in a statement.
Citigroup cuts nearly 30,000 jobs in second quarter
18 Jul 2009, 1410 hrs
NEW YORK: Citigroup has slashed nearly 30,000 jobs in the second quarter of this year as the banking major resorted to cost cutting measures to
tackle the financial turmoil.
The banking behemoth has swung into a profit of $4.28 billion in the second quarter on the back of a gain of $6.7 billion from the stake sale of Smith Barney brokerage.
According to the company, in the second quarter, the number of employees stood at around 2,79,000.
"Head count declined by approximately 30,000 from the first quarter of 2009, to 2,79,000, mainly driven by Smith Barney transaction," Citigroup said while announcing the second quarter results today.
"Head count is now approximately 96,000 below peak levels. June was the 20th consecutive month of head count decline," the statement said.
In the second quarter of last year, the company had a loss of $2.49 billion, it said in a statement.
