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Citigroup: 100 layoffs at Uniondale office (Five thousand altogether)
New York Newsday ^ | November 13, 2012 | Carrie Mason-Draffen

Posted on 11/14/2012 12:07:38 AM PST by 2ndDivisionVet

Citigroup Inc. plans to lay off 100 employees in its Reckson Plaza office in Uniondale, the bank said in a regulatory filing Tuesday.

The bank cited "economic" reasons for the layoff, which is part of a larger plan to cut about 5,000 employees because of volatile financial markets and declining trading and investment fees.

"These actions were part of a restructuring plan previously announced at the end of 2011," the bank said in a statement Tuesday.

The Uniondale workers are part of a unit that focuses on consumer operations, such as processing statements. The office will remain open, staffed with workers in other operations, but Citigroup declined to say how many would continue there.

The Worker Adjustment and Retraining Notification Act filing said that the banking company began notifying the Uniondale employees on July 2 about the layoff and that the process would continue through Dec. 3. The company expects to complete the layoffs by March 3...

(Excerpt) Read more at newsday.com ...


TOPICS: Business/Economy; Local News
KEYWORDS: banking; economy; layoffs; newyork
"Laisse les bon temps rouler" eh?
1 posted on 11/14/2012 12:07:52 AM PST by 2ndDivisionVet
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To: 2ndDivisionVet

http://www.youtube.com/watch?v=JCmkZFMSuFQ


2 posted on 11/14/2012 12:33:01 AM PST by Irenic (The pencil sharpener and Elmer's glue is put away-- we've lost the red wheel barrow)
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To: 2ndDivisionVet

Hope.

Change.

Forward.


3 posted on 11/14/2012 1:30:06 AM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: 2ndDivisionVet

You have to put these announcements over the past ten days in prospective. These unemployed folks won’t appear until Feb or Mar of next year. We ought to anticipate the unemployment moving back up closer to nine percent by the summer of 2013. At that point, the President can’t really blame Bush anymore...he owns the mess at this point.


4 posted on 11/14/2012 2:07:15 AM PST by pepsionice
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To: pepsionice

The real unemployment number at this point is around 15%, not counting underemployment, It will likely be about 25% by early spring.

http://portalseven.com/employment/unemployment_rate_u6.jsp


5 posted on 11/14/2012 2:14:54 AM PST by 2ndDivisionVet (You cannot invade the mainland United States. There would be a rifle behind every blade of grass.)
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To: pepsionice
t that point, the President can’t really blame Bush anymore...he owns the mess at this point.

I don't know how much longer they can fool the American Public. This guy makes Dennis Kozlowski look like an amateur when it comes to shell games.

Wait to people meet with their CPA's at tax time this year, ( look at my post the last two days about talking to my CPA friend ) wait until their healthcare bennies get reduced or dry up, just to name two.

The Chicken's have come home to roost!

6 posted on 11/14/2012 4:17:45 AM PST by taildragger (( Tighten the 5 point harness and brace for Impact Freepers, ya know it's coming..... ))
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To: 2ndDivisionVet

November 14 , 2012

Panasonic - 10,000 More Layoffs by End of March

Pierce Manufacturing in Bradenton - Layoffs begin

Gamesa Energy - 92 Layoff Notices

Report: Spain’s Bankia ( International ) - 5,000

Tooele County UT - 22

Monitor Group - 235 Layoffs, Probably Much Less

http://www.dailyjobcuts.com/


7 posted on 11/14/2012 7:55:43 AM PST by KeyLargo
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