Citigroup Inc. faces serious economic recession that makes the major American financial services company cut another 2,000 trading and investment-banking jobs.
It’s the second time this year that the company cuts jobs, both cases based on the previous mortgage market crisis, costing Citigroup a loss of almost half its market value.
On January 7, 2008 Citigroup announced that it is considering cutting 5 percent to 10 percent of its work force, which totals 327,000.
Analysts broadcast further losses taking into consideration Citigroup’s loss in the fourth quarter (the biggest in its 196-year history) and the current events. Some predictions are even darker and hint that Citigroup is balancing over a gulf.
Putin said that NATO increased its military personnel by 10,000 people in the areas where NATO troops should not even be in accordance with key documents
The choice of the city of Helsinki is not incidental as the capital of Finland had hosted US-Soviet negotiations on the limitation of nuclear stockpiles in 1969