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.
The Trump administration is looking for a replacement for the American military contingent in the north of Syria. If the United States agrees with Saudi Arabia, the situation in the south of the country will become a lot more intense as Iran and Israel stand on the brink of war
The United States is concerned about the current crisis in the relations with Russia and suggests returning to reasonable policies to avoid a nuclear war