Greedy desi butcher and Citigroup CEO Vikram Pandit may fireÂ more employees than previously reported.
Soon afterÂ taking over as CEO of struggling Citigroup, Vikram Pandit started sacrificing Citi jobsÂ even as he grabbed about $26.7 million in stock (1.094 million shares) on January 22, 2008, according to the bankâ€™s regulatoryÂ filings with the Securities and Exchange Commission.
New CNBC reports suggest that Vikram Pandit may butcher upto 37,000 Citi jobs over the next 12-18 months, compared to the previous estimate of 24,000.
CNBC also suggests that Vikram Pandit wants to make these upcoming job cuts permanent unlike in the past. This means that Citi will not rehire the laid off employees as consultants.