Oh boy.
Citigroup just announced that it may fire 10% of its investment-bank workers starting tomorrow. The financial giant already laid off 9,000 jobs since March 2008. It's pretty scary and unfortunate since they are the ones who are greatly hit by the US credit crisis in the past year. This laying-off strategy is an effort to re-engineer the organization to the rising changes of the market conditions. I hope they get back on their feet fast, clean and more powerful than ever. This is just an unfortunate professional event.
Another news in the realm of IT, Microsoft's Founder, Bill Gates will have his last official day of work on June 27. He is turning over the salient management post of the software giant Microsoft to three qualified men in different spectrums. Microsoft has been a powerhouse until certain competitors and opportunities were missed. Apple software is growing globally. Microsoft has failed to acquire Yahoo to battle out Google and seek presence in the INternet search industry; and Vista flopped in the market. Bill Gates will then act as a director and biggest shareholder in the company. He may not be "working" with Microsoft, but he certainly is still part of the largest shareholder unit with deep ties with the management team. I think he still has the BIGGEST say and influence in the organization. I think everything's going to be okay.
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