CitiGroup lays off more than 50,000 workers

Royale said:
Citigroup to cut more than 50,000 jobs - Nov. 17, 2008

My heart goes to those affected employees who are about to be laid off.
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Yup, just seen that on tv news moment ago... when will it stop closing so many stores and layoff people!

It gets more scary thinking as what if the depression could come our way eventually! Never seen anything like this in my life. :aw:

Japan just announced yesterday that they arrived into the second recession now (last time in 2001)... theirs are considered as the 2nd largest economy in the world by the way.
 
I feel bad for the 50k employees, including couple of people I know affected by this. :(
 
:jaw: WTF? That's so sad! The economic is SCREWED UP this year!!!!!!
 
With all of these people losing their jobs, I wouldn't be surprised if we weren't headed for a recession.
 
theory... if Dow street hit bad time. Lay-off been force to do that. Gas price go down.

If it's awesome hit on stock, less layout, expensive gas. Would that be that way....???
 
~♥~Pinky~♥~ said:
Yeah, Of course! It's Great Depression right now. :(
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It's not official to be Great Depression, too far to confirm it.

We are in recession, not Great Depression.

If we are in Great Depression then need have around 25% unemployment like in 1930's to 1940's, percent of unemployment is no more than 8% now.
 
Foxrac said:
It's not official to be Great Depression, too far to confirm it.

We are in recession, not Great Depression.

If we are in Great Depression then need have around 25% unemployment like in 1930's to 1940's, percent of unemployment is no more than 8% now.
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Okay, Thank you for correct.
 
a depression is an extended recession basically. And if its extended then you know its obviously fucking bad.
 
It not Great Depression.. what I see some news call "Worse Depression" as recession.

Well somewhat I read news but not confirm yet due lost tracking of unemployee... it say 10% right now, three days ago was 7.5%

Hope the confirm is false... however; my heart go to people and would donor to people...

We can do anything to donor like we make cookie or whatever to make then sales for free to get 2 cans of food and get that cookie those donor gone to unemployed as "stock up" or back up before it get worse...

Again.... Just hope that 2009 will get improve.. my mother work for collection agency and she say thing get crazy... :(
 
It's very sad... :( It does the same here in Germany since world economy crisis... :(
 
Yeah, the unemployment here has been reported at 6.3 percent here in Washington state as it was about 4.3 percent before. It is really sad that we're going in another recession, which I had enough of that.
 
well, I find this recession quiet different from others.
we have auto industry's sale plunging down to pre-WWII era, our housing market in crisis causing the second biggest financial market plunging ever yet since the Great depression...
Plus, two wars in middle east, ever increasing deficit.

people are ever in debt, credit crunching will soon begin, I believe.
so...future looks bleak and its not good.
 
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