Massive Layoffs Begin at Citigroup, Goldman Sachs
The two companies began handing out pink slips to a combined total of 12,000 workers this week, published reports say.
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November 6, 2008
Massive Layoffs Begin at Citigroup, Goldman Sachs
Citigroup Inc. and The Goldman Sachs Group Inc. began handing out pink
slips to a combined total of 12,000 workers this week, according to published
reports.
New York-based Citigroup has begun notifying its employees who were affected
by its plan to slash 9,100 positions over the next 12 months, or about 2.6
percent of its 352,000-person workforce, according to Bloomberg.
During the past year, the company has disclosed plans to cut 22,000 jobs,
resulting in expenses of about $2.1 billion.
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