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BREAKING NEWS

Citigroup may about to lay off 6,500 workers

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Citigroup may about to lay off 6,500 workers

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The world’s biggest bank, Citigroup, is reportedly planning to lay off 6,500 people from its investment banking division; that is about 10% of those working there.

A story in the Wall Street Journal said entire trading desks in New York and other cities are expected to be eliminated, including for the first time the departure of dozens of senior staff.

Citigroup has suffered 9.5 billion euro in losses over the past two quarters.