Is a threat by Citibank to cut up to 30,000 jobs a signal that things are getting worst or better. Is that to save money and be more financially sound or the numbers are not coming in to support such a large work force?
We have not heard or had a huge job cut announcements in months and it seems all but forgotten that we have 15 millions officially unemployed in the country. That however could be reversed by such news right before Christmas. Who will then follow Citi’s job cut? Will the Europeans follow and send consumer stocks fora a bit of a dive. They all have risen considerably since April 2009. Watch out for some adjustment in that sector’s stock prices if Citibank goes through with the numbers.
We have noticed that Wal-Mart (WMT) has been luke warm recently. Is that because analysts see less spending at retailers because of job growth slowing even more.
