News and Politics | August 27, 2008 | 10 comments

Citigroup gets thrifty: cuts color copies, BlackBerrys

source: http://www.huffingtonpost.com/2008/08/27/citigroup-gets-thrifty-cu_n_121706.html

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Pericles_Lewnes
Citigroup Inc. isn't just eliminating jobs to slash costs -- it's also clamping down on color copying and BlackBerrys.

In a recent memo to Citigroup employees detailing new efforts to trim expenses, John Havens -- who runs the company's institutional clients group -- wrote that "color copying and printing should only be used for client presentations," and that "presentations should be printed double-sided to reduce unnecessary paper usage."

Additionally, the bank is reviewing employees' BlackBerry use, and is now requiring pre-approval for the devices.

"Only necessary business related calls will be reimbursed," the memo said.
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10 comments // Citigroup gets thrifty: cuts color copies, BlackBerrys

  • MissAmanda
  • Brockie
    • 0
      Brockie  

    • Ha,Ha, This reminds me of when i worked for a security company. The managers sent out memos company wide saying to watch out for and report employees stealing paper clips and ball point pens. When the CEO was getting paid 20 million a year. He was later arrested for stealing 6 million from the company. Thats a hell of a lot of paper clips!!!!

    • 4 years ago
  • Greenpointer
  • Godtum
  • mbeharry
    • 0
      mbeharry  

    • CEO's work hard for their 200 million dollar salaries! whats wrong with you guys? lol

      There is an upside in the fact that the saudi prince who is a major stake holder in citicorp is seeing a slight decline in his assets.

    • 4 years ago
  • sewbutterfly
    • 0
      sewbutterfly  

    • Agreed on pro-athletes. They get clothes, shoes, etc. for free - while there are families that make no where near what they make and struggle to get clothes, shoes, food, gas, .......

    • 4 years ago
  • allIknowis
    • 0
      allIknowis  

    • Wow they should be careful, smart business practices could be contagious.
      But you're right about the enormous bonuses, no logical justification what so ever. But you could extend that to pro athletes too.
      Don't get me wrong, i'm a free market guy for the most part, but good god 10"s or 100's of millions to one person, no way unless they are actually risking their own personal money.
      Maybe a special excessive bonus tax, (i can't believe i'm writing this) should go into a corporate bailout fund.
      Like superfund cleanup money comes from a special tax on all chemicals sold or traded in the US.
      The term excessive would be based on either a formula of bonus vs. company net income or bonus vs. average employee income??

    • 4 years ago
  • sewbutterfly
  • brad62
  • Pericles_Lewnes
    • 0
      Pericles_Lewnes  

    • This is such BULLSHIT! Why don't they cut CEO bonuses and other elitist expenses?

      It always comes down to taking away from the employee.

      Just watch... they'll cut jobs... later... on a Friday.

      Then, when they have a crisis, we'll bail them out!

    • 4 years ago
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