Citi To Make Working At Citi Even Less Appealing?


Charlie Gasparino reports that Citi, having just realized that expenses are "now" getting out of control, is looking for creative ways to cut costs, stat. Supposedly, mid-level employees may be told over the next couple weeks that as part of a new and exciting compensation formula, they'll get to keep their jobs but not receive bonuses. Also, pay will no longer be salaried but hourly, which actually isn't that bad a deal, considering employees of the 'group are now required to work 24 hours a day. Vikram Pandit remains psyched about the company's prospects, and so should you.
Pandit Tightens Purse Strings [CNBC]