Vikram Pandit did his best. Too bad that his predecessors were a bunch of arrogant incompetents.
Citigroup will cut 50,000 jobs, or about 14% of its workforce in the near-term, according to an internal memo. Its stock price has fallen more than 70% from its 52-week high.
If you have money with CitiBank, I would say this: take it and run away! No more Citi Bank, just the matress. Better than to have it lost in a financial worldwide bank collapse.
Blog 4 BrandNewCitizen