On Monday, the company Citigroup announced the removal of 50 000 posts.
Given the financial crisis, the U.S. bank must put its workforce by 352 000 300 000 by the coming quarters to reduce costs by 20%.
The title of Citigroup lost a third of its value in the last two weeks and 68% since the beginning of 2008. The company had already transferred 23 000 employees in recent months.
Stock markets in North America and Europe are still declining on Monday. Both the Dow Jones that the TSX in New York and Toronto are in the red during the afternoon while in Europe, major indexes posted losses. Thus, London lost 2.38% of its value to 4 132 points, as Paris (3.32% to 3 182 points) and Frankfurt (3.25% to 4 557 points).
In Asia, the week began without major losses, while Tokyo gained 0.71% and that Hong Kong has lost just 0.1%.
These losses occur when it was announced that the second world economy, Japan is in recession and the aftermath of the end of the G20 meeting in Washington, which resulted in no action.
Given the financial crisis, the U.S. bank must put its workforce by 352 000 300 000 by the coming quarters to reduce costs by 20%.
The title of Citigroup lost a third of its value in the last two weeks and 68% since the beginning of 2008. The company had already transferred 23 000 employees in recent months.
Stock markets in North America and Europe are still declining on Monday. Both the Dow Jones that the TSX in New York and Toronto are in the red during the afternoon while in Europe, major indexes posted losses. Thus, London lost 2.38% of its value to 4 132 points, as Paris (3.32% to 3 182 points) and Frankfurt (3.25% to 4 557 points).
In Asia, the week began without major losses, while Tokyo gained 0.71% and that Hong Kong has lost just 0.1%.
These losses occur when it was announced that the second world economy, Japan is in recession and the aftermath of the end of the G20 meeting in Washington, which resulted in no action.
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