, Hong Kong

Citigroup to cut more than 11,000 jobs

It plans to shut down 15 branches in Korea and 7 in Hong Kong.

According to usatoday.com, Citibank plans to cut more than 11,000 jobs or about 4% of its global workforce to reduce costs and enhance profitability.

About 6,200 jobs will come from Citi's consumer banking unit.

The report says 15 branches in Korea, 14 in Brazil, seven in Hong Kong and four in Hungary will be cut.

Read the full report here.

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Australia, New Zealand propose reforms on AT1 capital rules
New Zealand wants to remove AT1 capital and introduce more granular standardised weights for credit risk. 
Retail Banking
SPD Bank Shanghai, XTransfer team up to help Chinese SMEs expand overseas
They aim to provide “safer, more efficient, more convenient” global collection and cash management services.
Cash Management