"Citi-The company could move a large chunk of its jobs — which could be in the range of 5,00-8,000 — to India, especially for equity research, investment banking and back-office transaction-related activities, sources close to the development said."
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We're only going to see more of this in the future, and not just from citi.
Yeah, but they were a fat bank. Theyve been needing to lean up for a while. I dont think we'll start seeing major cuts from other banks until march of next year, barring a major event.
Good luck to them if they send a ton of IBD functions to India, I can't even get them to make PIBs correctly...
Hopefully, other banks will not be firing people, but reducing hiring. I think my bank, definitely reduced class size this year as opposed to last year's
After all the hiring there is now going to be a lot of firing. But many banks are still recruiting. Is the firing mainly in the retail sector of CITI. If not looks like there will be a lot of citi bankers applying for jobs soon.
I know a couple of guys at citi and they don't sound like are too worried about losing their jobs.
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