Skip to comments.Citigroup: 100 layoffs at Uniondale office (Five thousand altogether)
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 ...
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.
The real unemployment number at this point is around 15%, not counting underemployment, It will likely be about 25% by early spring.
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!
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
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.