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alstry (< 20)

10,000 more to the wolves



September 29, 2008 – Comments (3)

11:19 a.m.    [C] Citi CFO: headcount to decline by roughly 10,000 in Q3

Sure we are going to save the "system" .... just not the economy or the people.

3 Comments – Post Your Own

#1) On September 29, 2008 at 1:31 PM, mandrake66 (48.37) wrote:

Citi has a lot of retail overlap with Wachovia. They expect to save a lot of money eliminating redundancies. In other words, expect an awful lot of branches to be closed.

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#2) On September 29, 2008 at 1:33 PM, alstry (< 20) wrote:

I agree....also expect a lot more commercial vacancies.

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#3) On September 29, 2008 at 1:35 PM, dexion10 (27.11) wrote:

I bet Citi will close more of it's branches in favor of Wachovias generally more visable locations and better square footage

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