Citi works overtime to soothe staff

At Citibank, human resource officers are trying hard to sweeten the bitter pill by working hard to keep employees updated on the details of the manner in which the giant is coping with the financial meltdown.

They say bad news travels fast. At Citibank, human resource officers are trying hard to sweeten the bitter pill by working hard to keep employees updated on the details of the manner in which the giant is coping with the financial meltdown. The idea is to ease fears and tensions that typically grip vital knowledge workers in such an atmosphere.

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“Though the updates are not reassuring, they are meant to inform the employees of the bank’s move,” a source at the bank told HT.

Citibank, part of Citigroup, has said there will be no major impact in India after its announcement to shed about 53,000 jobs worldwide, the employee panic is real. Bank sources said Citi was likely to announce job cuts in India by early next year. Citigroup currently has about 22,000 employees in India.