Citigroup, fighting to keep its title as one of Wall Street’s most innovative investment banks when it comes to demoralizing employees, has begun charging lower-level employees to use the investment bank's box seats at sporting events, the Wall Street Journal’s David Enrich is reporting. Top executives, of course, still get to enjoy the perk gratis.
Does anyone know how much Citi charges for box seats? Are they offered at cost? Or does Citi at least offer some kind of discount to those beleaguered junior bankers who have somehow survived the 30,000 deep cuts off Citi has already made or is planning to make? Also, does buying the seats automatically move you toward the bottom 5% of the bank that chief executive Vikram Pandit has promised to fire every year? After all, if you have time to seat in the box seats, you obviously aren’t working hard enough.
Citigroup's Pandit Faces Test As Pressure on Bank Grows [Wall Street Journal]
Posted by guest, May 06, 2008 11:11AM
It started off as 75% discount on face value but once they realized that junior bankers actually wanted these seats, they cut it to a 50% discount...