The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial Service Activities, Except Insurance And Pension Funding
168 jobs Number of planned job losses
Announcement Date
19 March 2024
Employment effect (start)
19 March 2024
Foreseen end date
Description
Citibank Europe – which is part of Citigroup - is to cut 168 roles in Ireland as part of its global cost-cutting programme.
Citigroup has said Ireland would continue to play an important role in its global network. In January of 2024, Citigroup reported its worst quarter in 15 years and announced it would shed up to 20,000 roles globally over the next three years.
Citibank Europe has its EU banking headquarters in Dublin and currently employs approximately 2,900 people in the Republic of Ireland.
The global restructuring programme of Citigroup has been recorded in the ERM events database Citigroup-2024-WO.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
