Citi Execs Takes Care Of Their Own

Citigroup, Inc (parent of Citibank) lost $18.7 billion last year, laid off 39,000 employees, and took $52 billion in government bailout money, but that hasn’t stopped them from honoring their commitments to their former directors.

Bloomberg reports that Roberto Hernandez Ramirez (incidentally, the 7th richest Mexican) will continue to be reimbursed for private air travel, an executive secretary, a private office, and personal security (which all told cost about $2.6 million in 2007) after he steps down as a company director.

Hernandez joins other former Citi CEOs Sanford “Sandy” Weill, John Reed, and Charles “Chuck” Prince who also continue to receive similar perks.

Full Bloomberg article here.