Citigroup Inc to cut 2,000 jobs starting next month
21 Dec 2015
1
Citigroup Inc intends to axe 2,000 jobs starting next month with chief executive officer Michael Corbat restructuring some of the bank's businesses, Bloomberg reported.
According to the report, a substantial portion of jobs to go would be from the middle or back-office positions.
The reductions are a part of the repositioning announced by Citigroup this month and would take place across the New York-based lender's global footprint.
According to one of the people, employees in the institutional business, which housed the trading and investment-banking operations, would be among those asked to go.
