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.
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.
I agree....also expect a lot more commercial vacancies.
I bet Citi will close more of it's branches in favor of Wachovias generally more visable locations and better square footage