A black Friday for 16,000 workers as Citi and Sun plan massive layoffs

By Joshuah at 14 November, 2008, 4:01 pm

Source: BloggingStocks

The two companies announcing big layoffs: a big bank and a leading tech company that sells to banks. According to reports, Citigroup (NYSE: C) may lay off 10,000 employees — adding to the 23,000 it has already cut in the last year. Sun Microsystems (NYSE: JAVA) announced it will can 6,000 people — 18% of its work force — citing the need to “align its cost model with the global economic climate.”

Full Story

Technorati Tags: ,

Categories : Economics


No comments yet.

Leave a comment