The financial sector is of fallen layer and the staff stands out
24.06.2008
Citigroup, in addition to which it was the first American company that could have insurances and banking after the big depression of 1929, can be considered to be today the biggest company of financial services of the world.
Nevertheless, the big companies also are affected by the almost world “financial” crisis about which we speak every day. For it he has decided to reduce his staff of banking of investment even in 10 %, what translated means approximately 6.500 dismissals (in whole there are approximately 350.000 workers).
This group accumulates 15.000 million dollars in losses and needs to adapt itself to the new conditions that reign on the market. The prime mover that affects in his negative accounts is the crisis of the mortgages of high risk.
But for calmness of many citizens of our country, Citibank Spain remains to the margin of this restructuring.
During the first three months of 2008 Citigroup registered losses at the price of 5.111 millions, therefore it reduced his personnel in approximately 9.000 workers approximately. In spite of everything, it seems that it was not sufficient and that the absence of liquidity asphyxiates him. In the same period of last year it obtained a net profit for 5.012 million dollars.
The bank giants do not bear the credit crisis and that affects regrettably in the increase of the dismissals.
Route: Expansion
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