Monday Job Cuts Speech Major Test For Citi's Pandit

CNBC.com
| 15 Nov 2008 | 04:09 PM ET

Citigroup plans to shed about 10 percent of its global workforce, a
person familiar with the matter said Friday, as it tries to restore
profit and quiet mounting criticism of Chief Executive Vikram Pandit.

Citigroup CEO Vikram Pandit plans to make a dramatic statement Monday
morning about major cut backs in the struggling firm's workforce aimed
at calming market fears that the troubled financial services giant isn't
taking the steps necessary to address its many ills, which include a
bloated cost structured that has sent shares of its stock reeling,
people close to the company said.

These people say that as of Saturday afternoon the exact size of the
cuts is not known, but it's expected to be higher than the 23,000 cuts
the firm made as of end of the third quarter to its workforce of
approximately 350,000 worldwide. These people say the overall size of
the cuts that Pandit will announce during a highly anticipated town hall
meeting could add up to close to 40,000 depending on the number of asset
sales, such as spinning off businesses the firm could pull off in
addition to additional planned layoffs.

These people add that during the meeting Pandit will likely cite a
specific number of job cuts and say these cuts will occur a relatively
short period of time, such as over the next five or six months.

"The object here is for people to take notice," said one person close to
the company. "The exact number is still a moving target but it will be
dramatic."

- - -

Good job, Bush.

"Boater" wrote in message
...
Monday Job Cuts Speech Major Test For Citi's Pandit

CNBC.com
| 15 Nov 2008 | 04:09 PM ET



Good job, Bush.

Bush? I thought his name was Pandit.

Eisboch

Boater wrote:
Monday Job Cuts Speech Major Test For Citi's Pandit

All the more reason to be ****ed at the unions. Their greed has caused
this whole domino effect of crumbling economy worldwide. Even the
terrorists couldn't have devised a more brilliant plan to destroy us.
Good going labor unions.

Jim wrote:
Boater wrote:
Monday Job Cuts Speech Major Test For Citi's Pandit

All the more reason to be ****ed at the unions. Their greed has caused
this whole domino effect of crumbling economy worldwide. Even the
terrorists couldn't have devised a more brilliant plan to destroy us.
Good going labor unions.




Good grief.

Boater wrote:
Jim wrote:
Boater wrote:
Monday Job Cuts Speech Major Test For Citi's Pandit

All the more reason to be ****ed at the unions. Their greed has caused
this whole domino effect of crumbling economy worldwide. Even the
terrorists couldn't have devised a more brilliant plan to destroy us.
Good going labor unions.




Good grief.

Maybe stretching the truth a little but makes a lot more sense than your
stupid lies.

Jim wrote:
Boater wrote:
Jim wrote:
Boater wrote:
Monday Job Cuts Speech Major Test For Citi's Pandit

All the more reason to be ****ed at the unions. Their greed has
caused this whole domino effect of crumbling economy worldwide. Even
the terrorists couldn't have devised a more brilliant plan to destroy
us.
Good going labor unions.




Good grief.

Maybe stretching the truth a little but makes a lot more sense than your
stupid lies.


Shouldn't you be busy stalking someone else's wife?

Don't you have a wife of your own? Why are you so obsessed by the wives
of others?

I happened to look up "low-life scum" in the dictionary the other day,
and lo and behold, there you were...in your little shop, repairing a
lawnmower.

Boater wrote:
Jim wrote:
Boater wrote:
Jim wrote:
Boater wrote:
Monday Job Cuts Speech Major Test For Citi's Pandit

All the more reason to be ****ed at the unions. Their greed has
caused this whole domino effect of crumbling economy worldwide. Even
the terrorists couldn't have devised a more brilliant plan to
destroy us.
Good going labor unions.




Good grief.

Maybe stretching the truth a little but makes a lot more sense than
your stupid lies.


Shouldn't you be busy stalking someone else's wife?

Don't you have a wife of your own? Why are you so obsessed by the wives
of others?

I happened to look up "low-life scum" in the dictionary the other day,
and lo and behold, there you were...in your little shop, repairing a
lawnmower.

You sound a bit rattled this morning. Have a cup of coffee to calm your
nerves.
I see you had a wife many many years ago but I can't find anything that
indicates you are currently legally married. Give me a name and I will
try to connect her/him to you. We wouldn't want people to think you are
making all this up.

Boater wrote:
Jim wrote:
Boater wrote:
Jim wrote:
Boater wrote:
Monday Job Cuts Speech Major Test For Citi's Pandit

All the more reason to be ****ed at the unions. Their greed has
caused this whole domino effect of crumbling economy worldwide. Even
the terrorists couldn't have devised a more brilliant plan to
destroy us.
Good going labor unions.




Good grief.

Maybe stretching the truth a little but makes a lot more sense than
your stupid lies.


Shouldn't you be busy stalking someone else's wife?

Don't you have a wife of your own? Why are you so obsessed by the wives
of others?

I happened to look up "low-life scum" in the dictionary the other day,
and lo and behold, there you were...in your little shop, repairing a
lawnmower.

Most of us stopped using that line when we got out of the 6th grade.

On Nov 16, 7:24*am, Jim wrote:
Boater wrote:
Monday Job Cuts Speech Major Test For Citi's Pandit

All the more reason to be ****ed at the unions. Their greed has caused
this whole domino effect of crumbling economy worldwide. Even the
terrorists couldn't have devised a more brilliant plan to destroy us.
Good going labor unions.

what a ridiculous notion. the fact is union workers account for less
than 8% of the US workforce. and the top 5 executives at most large
public companies take home about 10% of company revenue

it's executive greed...as alan greenspan said, not unions, that caused
this. of course you believe in the easter bunny it seems

wf3h wrote:
On Nov 16, 7:24 am, Jim wrote:
Boater wrote:
Monday Job Cuts Speech Major Test For Citi's Pandit
All the more reason to be ****ed at the unions. Their greed has caused
this whole domino effect of crumbling economy worldwide. Even the
terrorists couldn't have devised a more brilliant plan to destroy us.
Good going labor unions.

what a ridiculous notion. the fact is union workers account for less
than 8% of the US workforce. and the top 5 executives at most large
public companies take home about 10% of company revenue

it's executive greed...as alan greenspan said, not unions, that caused
this. of course you believe in the easter bunny it seems


FloridaJim is one of those non-achievers whose life highpoint was in the
Navy 35 years ago, and though he never did anything of consequence, he
likes to dream that something might have happened, and he might have
become rich. It's the same old crap the Republican "base" has bought
into. The funniest result of the recent elections is that the "base"
thinks it lost because it wasn't conservative enough, and that a "real"
conservative candidate will win over the populace in 2012. These "base"
Republicans haven't figured out they have been played and looted by
corporate America and Wall Street. They're losing their jobs, they're
losing their houses, their retirement has gone up in smoke, but no
matter...they're the Republican base. Hip, hip, hooray.