NEW YORK -(Dow Jones)– Citigroup is expected to cut jobs, CNBC’s Charlie Gasparino reported Wednesday, although he did not specify when the layoffs would occur.According to Gasparino’s internal sources at Citi, the financial firm is expected to lay off 5% to 10% of its work force, which would account for as many as 32,000 employees.Citigroup shares were down 4.8% at $31.64 in recent trading.-By Steven Russolillo, Dow Jones Newswires: 201-938-2205, steven.russolillo@ dowjones.com
Citigroup now employs about 1880 people in Delaware.(source: NJ)
I know some people who will be significantly impacted by this. Delaware being small, I’m sure you do to.
You know who I blame.
I blame George Bush, Mike Castle, Tom Carper and Grover Norquist in that order.
The other shoe has FINALLY dropped on Bush and his toady enablers like Castle and Carper who for the past eight years pretended that Norquist had a legitimate vision for how to run an economy.
Cut taxes, then cut taxes, then cut taxes and blue birds will light on everybody’s shoulders and gumdrop trees will sprout next to rivers of chocolate syrup. Everyone can be a millionaire because you can buy a $500,000 house with no money down and sell it in two months for $750,000.
Well, that turned out to be hooey.
(BTW – Grover Norquist thinks Mitt Romney should be the President of the United States. ’nuff said.)