Saturday 26 May 2018

Citigroup tight-lipped on Irish jobs after cuts

BANKING giant Citigroup last night declined to say whether any staff in Dublin and Waterford would lose their jobs following its decision to cut 11,000 positions worldwide, writes Donal O'Donovan.

The US bank employs more than 2,000 at its Irish operations. It is cutting 4pc of its global staff in an effort to save $1.1bn (€841m a year).

Any Irish job losses would be due to the 25pc of the cuts that will be made in the bank's investment and corporate banking businesses, and 10pc in transaction services.

Irish Independent

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