Companies lay off vast numbers of workers with such regularity that you may not have noticed the announcement. Last week Citigroup Inc. said it would lay off 11,000 workers worldwide, citing a need to reduce expenses. Yet, at the same time, Citi revealed it gave top execs hefty "incentive awards," including... Read More »
Planned layoffs at U.S. firms rose for the third month in a row in November, partly driven by the bankruptcy of Hostess Brands, a report showed on Thursday.
Employers announced 57,081 job cuts last month, the highest level since May and up nearly 20 percent from 47,724 in October, according to the report from... Read More »
What does it mean to "have it all"? Every generation of American women seems to ask this question -- and comes up with depressingly narrow definitions. "You can have it all -- just not at once" may sound optimistic, but it's just another way of saying "you can have a great career, or you can have a great... Read More »
America bills itself as a land of opportunity, and the slogan still may be true in so many ways in 2012. But many see a persistent and growing inequality in both the labor force and standard of living. The gap between the "two Americas" has been an issue on the left for years, and was a catalyst for the Occupy... Read More »
By Pallavi Gogoi
NEW YORK -- Citigroup has become the first Wall Street bank to get a thumbs-down from shareholders over outsized executive pay.
At its annual meeting Tuesday, 55 percent of the bank's shareholders voted against the pay packages that have been granted to Citigroup's top executives,... Read More »
By Pallavi Gogoi
NEW YORK (AP) -- Citigroup Inc. is eliminating 4,500 jobs in its latest effort to cut costs. The bank will take a $400 million charge in the fourth quarter as a result.
Citigroup's CEO, Vikram Pandit, disclosed the job cuts at an investor conference Tuesday. The cuts represent about 1.5... Read More »
By Candace Choi
NEW YORK (AP) -- Citigroup Inc. is the latest bank seeking to trim costs with a smaller work force.
The New York-based bank is considering cutting 3,000 or more workers, which would amount to about 1 percent of its work force worldwide. A person with knowledge of the situation said... Read More »