Citigroup

Type
Internal restructuring
Country
United Kingdom
Region
London; Inner London - East;
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
1,000 jobs
Number of planned job losses
Job loss
Announcement Date
17 April 2005
Employment effect (start)
Foreseen end date

Description

Citigroup, the world's largest financial services group, is to cut up to 1,000 jobs in London. The job reduction will affect a number of areas, including derivatives trading, tax advisory services that are not contributing a large share of group profits and are considered high risk operations.

Sources

  • 17 April 2005: Scotsman

Citation

Eurofound (2005), Citigroup, Internal restructuring in United Kingdom, factsheet number 61427, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61427.