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back to article Citibank, RBS and JP Morgan wield gilt edged axe

Citibank is cutting another 53,000 from its payroll, on top of the 22,000 job cuts it has already announced. JP Morgan is also expected to announce job cuts today - the bank has already told contractors to accept lower day rates or find work elsewhere. Royal Bank of Scotland also said today that it is cutting 3,000 posts from …

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Wrong target

And how many of these lay-offs will be in the we-allowed-this-mess-to-occur-in-the-first-place Management levels?

Thought so.

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Stop

CEO's

And what are the company’s leaders cutting back on? No bonuses, no perks I don’t think so.

How much are they paid a year and if their companies are failing why do they keep getting more money? They should be the first to take pay cuts and loose all their perks.

But wait I work for a living I don’t know enough to say what they should do. At least that is what the COO of my company says.

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Anonymous Coward

Shock and awe

Sounds like a typical 'shock' effect to me.

Corporations *say* that they are in big trouble. get £billions of your money. Then lay you off. Then you taxpayers have to pay back the loans that the govt raised to give them the billions.

Rich-> Richer

Poor -> pay for it

read some Naomi Klein people.

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