RETAIL BANKING | Staff Reporter, 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, 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.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.