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Citigroup (C) could join the list of banks that are cutting staff, with the WSJ reporting that...

Citigroup (C) could join the list of banks that are cutting staff, with the WSJ reporting that the bank is considering slashing 3,000 jobs, or around 1% of its workforce. This would include 900 positions at its securities and banking arm, where revenue has fallen because of market volatility.
Comments (3)
  • twice
    , contributor
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    thank you barrack hussein. your taxes and regulations caused this
    16 Nov 2011, 03:27 AM Reply Like
  • DianeLee
    , contributor
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    Let's thank Dodd-Frank, too, while we're at it.
    16 Nov 2011, 03:38 AM Reply Like
  • Orange Juice (OJ: +4.53%)
    , contributor
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    I'm guessing you're referring to the higher capital reserve requirements? We're in a 'bit' of a recession.. banks are going to have to generate more capital to meet consumer demand anyway, with or without Dodd-Frank enforcing it. We can't expect banks to lower their required reserves and hire 3000 people. If you've got a better solution, I'd love to hear it (not rhetorical).
    16 Nov 2011, 06:49 AM Reply Like
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