Welcome to ObamaVille – Citigroup cuts 11,000 jobs

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obama2Within the first few days of Obama’s ‘re-election’, more than 100,000 had already been cut as companies prepare for the next four year of Marxist government, and the cowardly Republicans caving to his demands in the House. Now, you can add Citigroup to the list of companies cutting jobs, as they announced today that they are getting rid of 11,000 jobs.

“These actions are logical next steps in Citi’s transformation.While we are committed to — and our strategy continues to leverage — our unparalleled global network and footprint, we have identified areas and products where our scale does not provide for meaningful returns,” Michael Corbat, Citi’s chief executive officer, said in a statement.

“And we will further increase our operating efficiency by reducing excess capacity and expenses, whether they center on technology, real estate or simplifying our operations,” he added.