It’s a standard practice in the corporate world loves to copy its direct competitor and not so direct’s success mantra (though they constantly shout about creativity and innovation in their beautifully published corporate brochures on corporate mission, vision). Wont name those bureaucratic mammoth sized organizations, but it seems taking a cue from them Citigroup is also joining the bandwagon.
The group seems to have failed to garner profit in deflation driven economy. It is slashing jobs in US, outsource good number5 of jobs to India. Looking for profit outside US. That’s the standard way, by the way, to survive and pull down costs. Can’t blame them.
Read: Citigroup to Cut at Least 10,000 in an Overhaul
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