[ by Melanie Gretchen ]

Fox Business News seems to a secret spy or a "fly on the wall" at Citigroup.  Last week, Fox Business News Reporter Charlie Gasparino broke the news that the bank had laid off 11,000 people - so as to avoid paying year-end bonuses.  Today we report that, yet, another Fox reporter says the bank will be terminated more that the 11,000 positions initially reported.  [See today's WHO'S News story]

Now, Charlie Gasparino reports that employees may get coal this year instead of bonus dollars.  Actually, the report noted that those who typically get most of their compensation through bonuses may not get anything if they're laid off before year's end.  Anyone who was "whacked" before the release of bonuses checks will get no bonuses – a trend that may continue as the 3rd-largest U.S. bank continues its layoffs into 2013.

Gasparino added in frustration:  "Think about it: they worked the whole year.  Okay, so they didn't work the last month; you would think you pro-rate the bonus 11 months;  11 twelfths of it you get; [but] they're not doing it.  It's not totally precedented - I have heard this in the past - but I will tell you, this is pretty nasty.  They waited until after the election, they did it right before Christmas."

For further details, go to [Fox Business News, 12/5/12].