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Tuesday, August 26, 2008

Citigroup Limits Meetings, Pares Color Photocopies

LOL!!! A little too little, a little too late...fact is funnier than fiction.

It seems that Citigroup has got to have one of the worst PR firms working for them.

"...Under the new policy, employee meetings must be held within Citigroup offices and client events will require approval, the memo said. Color photocopiers will be removed from some locations and their use will be limited to client presentations. The memo didn't say how much money the new rules will save."

How in the world is "returning color photocopies" and "limiting color use to client presentations..." going to help in any way shape of form?

I see a great deal of "Reductions In Field" in their future.

But if they are serious about reducing costs associated with printing, they should drop me a line.

Here is the article.

Citigroup cuts down on office waste

Posted Aug 26th 2008 5:20PM by Zac Bissonnette
Filed under: Citigroup Inc. (C)

"If you recently sent your CEO packing in the wake of $17.4 billion in writedowns, you need to do something to stop the outflow of cash.

For some that might mean eliminating the dividend or cutting back on out-sized executive pay. For Citigroup (NYSE: C), that apparently means cutting back on color copying and BlackBerry use.

The Associated Press reports that John Havens, the head of the company's institutional clients group, sent a note to employees admonishing them that "color copying and printing should only be used for client presentations," and "presentations should be printed double-sided to reduce unnecessary paper usage."

That's right:

when you're pulling that stunt that involves sitting on the copier and printing 20 shots of your derriere, use the black and white machine, thank you very much.

BlackBerry use will also be more closely monitored, and there will also be a cutback on outside management consultants and training, and functions held outside of the company's offices.

Of course the savings from measures like this are a pebble in the sand of hideously bad mortgage investments, but it's good to see that the company is clamping down on the waste of shareholder resources.

But doesn't it seem a bit, I don't know, hypocritical to be yelling at employees about wasting paper when the failed CEO left the company with a 9-digit parting gift?"

...I am still laughing...

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