Tuesday, November 18, 2008

Citigroup Growing in the Gulf While Cutting Jobs in the West

Citigroup has big exposure to Dubai, chairman says
Reuters - USA
Citigroup has big exposure to Dubai due to the optimistic growth prospects for the Gulf ...
Bischoff, speaking a conference in the seaside emirate, said he expected that the financial crisis could possibly end by 2010. ...
Banking giant to axe 52000 jobs
The Scotsman
BANKING giant Citigroup yesterday revealed it was cutting 52,000 jobs, in a move certain to send shockwaves through the global financial sector. The cuts – along with previously announced job losses of about 22,000 – will leave it with 300,000 employees worldwide. ...

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