Leaders Organize to Minimize Affects of Citigroup, Wachovia Deal

Sep 29, 2008

City, county and state leaders met at the Charlotte Chamber of Commerce headquarters today to crafted a pitch to New York-based Citigroup that it makes sense to hold onto jobs in Charlotte. "We all agreed that there's a case to be made for why Citigroup should retain every job that's here currently," says Bob Morgan, president of the Charlotte Chamber of Commerce. "We have a skilled work force; we have a cost of living that's 92 percent of the national average and we have commercial real estate that's attractive." Wachovia has about 20,000 employees throughout the Charlotte area. It's still not clear how the acquisition will affect jobs. Wachovia officials say Charlotte will be the base for branch banking operations, but will become part of Citigroup.