Citibank to lay off another 50,000 people and unemployment can hit 9% - GoFuckYourself.com

The Adult Broker · 11-17-2008, 03:32 PM

just heard it on radio. Citibank already laid off 20K thousand earlier.

my mortgage is with Citi, lovely-

Unemployment is climbing, past 9% in 2009 they said, that is almost 10% of our population - geez

farkedup · 11-17-2008, 03:35 PM

Quote:

Originally Posted by The Adult Broker

Unemployment is climbing, past 9% in 2009 they said, that is almost 10% of our population -

that is almost 11% of our population
that is almost 12% of our population
that is almost 13% of our population
that is almost 14% of our population
that is almost 15% of our population
that is almost 16% of our population
that is almost 17% of our population
that is almost 18% of our population
that is almost 19% of our population
that is almost 20% of our population

WTF almost 1 in 5 are unemployed

SteveLightspeed · 11-17-2008, 03:36 PM

Think of all the new models that will be coming into adult in the next year!

Hell, if things don't improve, I might make my own adult film debut!

GetSCORECash · 11-17-2008, 03:36 PM

Don't worry about your mortgage, Citi will collect.

_Richard_ · 11-17-2008, 03:36 PM

hopefully this is preemptive

The Adult Broker · 11-17-2008, 03:39 PM

Quote:

Originally Posted by SCORE-Cash

Don't worry about your mortgage, Citi will collect.

LOL I know they will, but they probably sell me off to another bank, I've been flipped so many times to others banks with my mortgage I don't even know who I am paying anymore!

SykkBoy · 11-17-2008, 03:41 PM

It's amazing to me that a company fucked up so badly, they have to lay off what amounts to the population of medium sized city...and I'm willing to bet none of those are in the upper echelon, who caused the problems to begin with...

The Adult Broker · 11-17-2008, 03:41 PM

and they mentioned GM is down to $3 and change for their stocks and said if they don't get a bailout by gov't they will most likely go bankrupt and that will be more devastating to the gov't than if they do give them funding.

Gov't said they can't favor on industry otherwise they will all come in asking for help. This is going to get interesting...and even more sad unfortunately.

$5 submissions · 11-17-2008, 03:50 PM

That's just direct job cuts. How about INDIRECT job losses. For every job cut by the giant companies, many small businesses cut back too.

The news does sound grim considering that BOTH consumer and business spending are impacted. We got through the last downturn because only business spending was down, consumer spending was propped up by the unreal real estate prices.

GetSCORECash · 11-17-2008, 03:58 PM

Quote:

Originally Posted by SykkBoy2

It's amazing to me that a company fucked up so badly, they have to lay off what amounts to the population of medium sized city...and I'm willing to bet none of those are in the upper echelon, who caused the problems to begin with...

Keep in mind that they plan to take the money the government gave them, to buy another bank fairly soon. They are shopping, for the right bank.

$5 submissions · 11-17-2008, 04:00 PM

Quote:

Originally Posted by SykkBoy2

It's amazing to me that a company fucked up so badly, they have to lay off what amounts to the population of medium sized city...and I'm willing to bet none of those are in the upper echelon, who caused the problems to begin with...

The trend in corporate layoffs is to start with middle management. The corporate "fat" so to speak. Those who watch the watchers watch the producers.

GetSCORECash · 11-17-2008, 04:02 PM

Quote:

Originally Posted by The Adult Broker

and they mentioned GM is down to $3 and change for their stocks and said if they don't get a bailout by gov't they will most likely go bankrupt and that will be more devastating to the gov't than if they do give them funding.

They will go into chapter 11, and come out better then before.

AutoNation will provide you warranty on your car, and some chinese/mexican/canadian guy will sell you even cheaper replacement parts.

Agent 488 · 11-17-2008, 04:02 PM

add to that 3 million more if the auto industry collapses to "teach the unions are lesson" and the multitude of chains that will go down after a shitty xmas season.

96ukssob · 11-17-2008, 04:10 PM

Quote:

Originally Posted by The Adult Broker

Unemployment is climbing, past 9% in 2009 they said, that is almost 10% of our population - geez

Seems like that but thats not how the math is done.

unemployment rate = unemployed/(employed + unemployed) * 100

so the unemployment rate does not include retired, people who are not able to work, etc. so probably 9% reflects 1% of the population or so

DWB · 11-17-2008, 04:36 PM

Quote:

Originally Posted by SteveLightspeed

Think of all the new models that will be coming into adult in the next year!

I like the way you think Steve.

$5 submissions · 11-17-2008, 04:38 PM

Quote:

Originally Posted by budsbabes

add to that 3 million more if the auto industry collapses to "teach the unions are lesson" and the multitude of chains that will go down after a shitty xmas season.

Those union benefits and contracts do weigh the auto giants down. Then again, so did their CEOs bad decisions.

Ethersync · 11-17-2008, 04:49 PM

Quote:

Originally Posted by bossku69

Seems like that but thats not how the math is done.

unemployment rate = unemployed/(employed + unemployed) * 100

so the unemployment rate does not include retired, people who are not able to work, etc. so probably 9% reflects 1% of the population or so

The official rate does not include people who have been unemployed for long periods of time either I believe. The way they come up with the official numbers is as much an art as it is a science. Maybe if more so...

$5 submissions · 11-17-2008, 04:50 PM

Wasn't there an investment bank analysis of GM stock being worth ZERO soon?

fuzebox · 11-17-2008, 05:23 PM

Wow... Citi bought my costa rican bank this year, and just finished changing the signs/logos/etc last week.

kane · 11-17-2008, 05:27 PM

If it helps I think the Citi layoffs are worldwide so it won't be too big of an impact on any one area. I would venture to guess most of those jobs are in third world countries and are service and support type of jobs.

DHL just shut down its US operations and closed up a shipping center that is the main employer of a town of 12,000. Of the 12,000 people in that town 4,000 of them worked in that shipping center. The rest pretty much worked in the stores and businesses in that city and were supported by the workers in that shipping center. There is a very real chance that town will become a ghost town. It is out of the way so other jobs are not easily gotten and with a flood of people hitting the job market it will over saturate what few other jobs there are. It is crazy to think that one company had that much impact on the lives of those people.

WinstonTriplexcash · 11-17-2008, 05:37 PM

Thats sad for those people who'll loose their jobs

Defiance Inc · 11-17-2008, 05:49 PM

The true unemployment is 11.8%. The 6.X number they feed the media is bullshit.
Lower right shows total unemployed including underemployed...
http://www.bls.gov/news.release/empsit.t12.htm

TyroneGoldberg · 11-17-2008, 06:18 PM

oh well shit happens. be prepared to live off the land or fall by the wayside

VeriSexy · 11-17-2008, 06:48 PM

Damn.. big blow for all around

czarina · 11-17-2008, 07:10 PM

jesus christ! will the bad news about the economy ever stop? the worst part is that the news are rejoicing in it!

11-17-2008, 03:32 PM	#1
The Adult Broker Confirmed User Join Date: Dec 2004 Location: The World Posts: 5,265	Citibank to lay off another 50,000 people and unemployment can hit 9% just heard it on radio. Citibank already laid off 20K thousand earlier. my mortgage is with Citi, lovely- Unemployment is climbing, past 9% in 2009 they said, that is almost 10% of our population - geez __________________ Gamma Entertainment \| \| Camz \| Fleshbot\| TheMobileBroker AdultShowsOnly Lori Z., The Adult Broker \| theadultbroker.com \| [email protected] \| The Mobile Broker \| themobilebroker.com \| [email protected] \|-Adult's ONE stop MOBILE shop ICQ: 289567792

11-17-2008, 03:36 PM	#3
SteveLightspeed Confirmed User Join Date: Jul 2001 Location: Lightspeedworld Posts: 7,940	Think of all the new models that will be coming into adult in the next year! Hell, if things don't improve, I might make my own adult film debut! __________________ Abra-cadabra!

11-17-2008, 03:36 PM	#4
GetSCORECash Confirmed User Industry Role: Join Date: Mar 2008 Location: Miami Posts: 5,527	Don't worry about your mortgage, Citi will collect. __________________ \| skype: getscorecash \| ICQ: 59-271-063 \| New Sites: \| SCORELAND2 \| Roku Channel SCORETV.TV \| 60PLUSMILFS \| \| Big Tit Hooker \| Tits And Tugs \| Big Boobs POV \| Karla James \| \| Naughty Foot Jobs \| Linsey's World \| Busty Arianna Sinn \| Get SCORE Cash \|

11-17-2008, 03:41 PM	#7
SykkBoy Jesus loves bacon Industry Role: Join Date: Feb 2001 Location: Sin City, Motherfucker Posts: 19,969	It's amazing to me that a company fucked up so badly, they have to lay off what amounts to the population of medium sized city...and I'm willing to bet none of those are in the upper echelon, who caused the problems to begin with... __________________ Support my new movie “The Second Coming” Last edited by SykkBoy2; 11-17-2008 at 03:46 PM..

11-17-2008, 03:41 PM	#8
The Adult Broker Confirmed User Join Date: Dec 2004 Location: The World Posts: 5,265	and they mentioned GM is down to $3 and change for their stocks and said if they don't get a bailout by gov't they will most likely go bankrupt and that will be more devastating to the gov't than if they do give them funding. Gov't said they can't favor on industry otherwise they will all come in asking for help. This is going to get interesting...and even more sad unfortunately. __________________ Gamma Entertainment \| \| Camz \| Fleshbot\| TheMobileBroker AdultShowsOnly Lori Z., The Adult Broker \| theadultbroker.com \| [email protected] \| The Mobile Broker \| themobilebroker.com \| [email protected] \|-Adult's ONE stop MOBILE shop ICQ: 289567792

11-17-2008, 03:36 PM	#5
_Richard_ Too lazy to set a custom title Industry Role: Join Date: Oct 2006 Location: Vancouver Posts: 30,986	hopefully this is preemptive

11-17-2008, 03:50 PM	#9
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	That's just direct job cuts. How about INDIRECT job losses. For every job cut by the giant companies, many small businesses cut back too. The news does sound grim considering that BOTH consumer and business spending are impacted. We got through the last downturn because only business spending was down, consumer spending was propped up by the unreal real estate prices. __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

11-17-2008, 04:02 PM	#13
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	add to that 3 million more if the auto industry collapses to "teach the unions are lesson" and the multitude of chains that will go down after a shitty xmas season.

11-17-2008, 04:50 PM	#18
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	Wasn't there an investment bank analysis of GM stock being worth ZERO soon? __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

11-17-2008, 05:23 PM	#19
fuzebox making it rain Industry Role: Join Date: Oct 2003 Location: seattle Posts: 22,009	Wow... Citi bought my costa rican bank this year, and just finished changing the signs/logos/etc last week.

11-17-2008, 05:27 PM	#20
kane Too lazy to set a custom title Join Date: Aug 2001 Location: portland, OR Posts: 20,684	If it helps I think the Citi layoffs are worldwide so it won't be too big of an impact on any one area. I would venture to guess most of those jobs are in third world countries and are service and support type of jobs. DHL just shut down its US operations and closed up a shipping center that is the main employer of a town of 12,000. Of the 12,000 people in that town 4,000 of them worked in that shipping center. The rest pretty much worked in the stores and businesses in that city and were supported by the workers in that shipping center. There is a very real chance that town will become a ghost town. It is out of the way so other jobs are not easily gotten and with a flood of people hitting the job market it will over saturate what few other jobs there are. It is crazy to think that one company had that much impact on the lives of those people.

11-17-2008, 05:37 PM	#21
WinstonTriplexcash Confirmed User Join Date: May 2007 Posts: 2,192	Thats sad for those people who'll loose their jobs

11-17-2008, 05:49 PM	#22
Defiance Inc Confirmed User Industry Role: Join Date: Apr 2008 Location: Phoenix Posts: 142	The true unemployment is 11.8%. The 6.X number they feed the media is bullshit. Lower right shows total unemployed including underemployed... http://www.bls.gov/news.release/empsit.t12.htm __________________

11-17-2008, 06:18 PM	#23
TyroneGoldberg Confirmed User Join Date: Sep 2007 Posts: 1,081	oh well shit happens. be prepared to live off the land or fall by the wayside

11-17-2008, 06:48 PM	#24
VeriSexy Join The Royal Family Join Date: Apr 2002 Posts: 25,463	Damn.. big blow for all around __________________ Looking for a KICK ASS TEEN SPONSOR? Check out ROYAL CASH - THE KING OF TEEN! Incredible webmaster tools FHGs, Morphing Blog and RSS Feeds, Embedded FLV & WMV Videos. With TOP RATIO Sites like TeenStarsOnly.com - Earn $$ with our New Site & Bonus Payouts!! ATMovs.com \| iTeenVideo.com \| TeenSexMovs.com \| TeenSexMania.com

11-17-2008, 07:10 PM	#25
czarina Webmaster Extraordinaire Industry Role: Join Date: Jul 2002 Location: A beautiful beach... Posts: 10,742	jesus christ! will the bad news about the economy ever stop? the worst part is that the news are rejoicing in it!