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Citigroup still has job vacancies!

Source: PTI
November 24, 2008 11:54 IST
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It may come as a surprise, but the US banking behemoth Citigroup is still looking out for new employees and has posted more than 100 job vacancies over last week -- that is, since announcing the corporate America's second largest single-day layoff of over 50,000 employees.

It seems the bank is not just facilitating the out-bound traffic on its payrolls since November 17, the day when Pandit announced over 50,000 job cuts, it has also posted at least 109 new job vacancies -- all full-time positions and mostly at manager or executive levels -- on its website for positions across the world.

"We are always looking for talented people to join us," Citigroup says alongside these job postings, while exhorting the potential candidates whether they are "ready for a career with endless possibilities?" Out of the total postings, the maximum 81 vacancies have been posted for North America, which is said to account for the highest number of job cuts announced in recent months.

Once the world's most valued bank, headed by NRI banker Vikram Pandit whose own job is reportedly under attack, Citigroup had over 3,75,000 employees at the end of last year and it aims to trim it down to below three lakh.

While close to 25,000 jobs have already been axed so far this year, Pandit announced on Monday that rest of the layoffs would be effected in coming weeks as part of efforts to cut costs and help the crisis-ridden bank return to normalcy.

The decision to pare its workforce by 50,000 people has given Citi the dubious distinction of announcing the second-biggest ever layoff in the history of corporate America, a position it shares with retail firm Sears Roebuck, which had announced a similar number of job cuts in January 1993.

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