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Monday, November 17, 2008

Citigroup to fire 50,000

The Times is calling it the largest corporate cull in history. However, what are we to make of this quote from Sir Win Bischoff, chairman of Citigroup:

"What all of us have done, and perhaps injudiciously, we’ve added a lot of people over this very benign period."

Sir Win is also predicting heavy job losses in London.

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