This is the good people from CNBC, who knows a thing or two about finance:
Click here to watch
I don’t know if the government can come in and cancel the deal, but that may be another way the deal goes away. Personally, I don’t think it will happen, lots of banks took TARP money and their deals won’t be canceled.
Also about half of the 52,000 job cuts are coming from asset sales, meaning these people won’t lose their jobs through Citi, rather they are selling these divisions, so those jobs won’t be part or Citi anymore.
Here’s a really good article on this from ABC News.
Posted under Citi Field
This post was written by Joe McDonald on November 25, 2008
Tags: Abc News, Asset Sales, Banks, Citi, Cnbc, Finance, Job Cuts, Jobs, Money, Sales People