Citi to lay off 65 office cleaners, says report

Struggling financial services firm Citigroup would lay off even its office cleaners, with about 65 of them are expected to leave the
firm in the next few weeks, media report says.

“Citigroup can no longer afford to keep on the people who clean their offices, apparently,” the New York magazine said in its website.

Quoting Service Employees International Union spokesperson Kwame Patterson, the report said “we got notice about two weeks ago that 65 workers will be laid off within the coming weeks.”

Source: The Economic Times

Citigroup CEO pay, perks, stock-based awards $38.2M

According to MarketWatch: “Citigroup Inc. said Monday that Chief Executive Vikram Pandit’s pay, perks and stocks and options were valued at $38.2 million in 2008, a year in which the company received government bailouts worth about $45 billion.
Pandit’s pay package included stock-based awards and option grants valued at $37.3 million at the time of grants early last year, according to a company filing with the Securities and Exchange Commission. “

Bank of New York Mellon To Cut 1800 Jobs

According to CNN Money: ” The Bank of New York Mellon Corp. (BK) will cut 1,800 jobs, or about 4.2% of its worldwide work force.

Several banks have announced huge layoffs, including Citigroup Inc. (C), which plans to slash some 50,000 jobs; Goldman Sachs Group Inc. (GS), which is cutting 10% of its 32,500 global work force; and Deutsche Bank AG (DB), which plans to cut 900 jobs.”

Citigroup to cut more than 50000 jobs

CNN Money: “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.”

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Update (Bloomberg; 11/17/2008; 17:10): Citigroup’s Pandit Targets 52,000 Jobs to Eliminate

Citigroup to lay off another 10000

“NEW YORK (CNNMoney.com) — Citigroup is getting ready to lay off thousands of workers and raise credit card interest rates, according to a published report Friday.”

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