Saturday September 19, 2020

Citigroup to cut 11,000 jobs

Citigroup is to cut 11,000 jobs as part of a cost saving programme aimed at saving the US bank more than $1 billion a year.

6th December, 2012
2
A pedestrian walks past a sign in the window of a Citibank branch located adjacent to Citigroup headquarters in New York.

Citigroup is to cut 11,000 jobs as part of a cost saving programme aimed at saving the US bank more than $1 billion a year.

The lender said it was taking “repositioning actions” in the coming months and would take a $1.1bn in charges against the cost of the programme.

Citigroup employs more than 2,000 staff in Dublin and Waterford but did not detail whether the cuts would be felt in this country.

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