Thursday, March 20, 2008

Citigroup to lay off 2,000 traders

Trouble at the biggest US bank. It seems that Citigroup will lay off 2,000 investment bankers and traders. This news could not come at a worse time with the US going into a major recession. This is scheduled to happen before the end of March and this will affect the economy. We see more and more firms cutting back. The financial sector is sinking.

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