According to a recent Computerworld Q&A, Citigroup said they have saved around $1 million per year in North America alone through virtualization.  Quite impressive. 

Citigroup began tracking their virtualization efforts back in January 2007.  Ten percent of their North American IT environment is virtualized.  And they've captured a 73% reduction in energy consumption, translating to 56 metric tons of CO₂ per week or roughly 300 tons per year that they are no longer emitting.

In this day and age of bank failures and bank bailouts, it is nice to hear how virtualization is helping to save money, that's a good thing.  People are tired of hearing about private jets and golden toilets during bailout fever, that's the wrong message, and a bad thing. 

It is also quite admirable to hear how Citi has a goal of having 50% of their global desktop environments populated by thin-client machines by 2010.  Again, cost savings.  And again, showing the value of virtualization and thin client machines.  Doing so should have a positive outcome on the bottom line.

Unfortunately, Citigroup is also working to reduce the number of global datacenters that it has from 52 in 2006 to 24 in 2010. In 2007, they company had 37 global data centers.  I said unfortunately, weird right?  Why?  Because yes, while it does save costs and help with being Green, in this economic downturn, I have to wonder if this will also cut jobs.  And if so, how many?  There is a trade-off taking place right now, I understand; but with unemployment rates rising like they are, a lot of folks would rather see people working right now rather than shutting down more facilities and spending $50 billion over the next 10 years to address climate change.

This is a hard row to hoe to be sure.