Citigroup announced today that it's latest round of layoffs will total 52,000 employees or close to 20% of it's workforce. Only IBM's announcement in 1993 of a 60,000 job cuts was larger. This is especially painful to New York City, as Citigroup is NYC's 2nd largest employer.
Did I mention the stadium naming jinx?
Citigroup to Cut 50,000 jobs (Marketwatch)
Citigroups Layoff Of 52,000 Makes History (Crain's)