International financial conglomerate Citigroup is seeking to lay off 900 employees in its securities and banking division, The Wall Street Journal reports. The job cuts account for nearly 5 percent of the division’s global headcount.
The bank intends to cut 3,000 jobs, or around 1 percent of its workforce. The staff reduction is part of a broader move by Citigroup to curtail expenses as turmoil in the equity and debt markets cuts into its income.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Bloomberg.
