Citigroup Singapore has laid off about 40 employees in recent weeks, The Straits Times has learnt.
The job cuts, which included senior positions, have come as the American bank on Wednesday announced it would axe 4,500 jobs globally and set aside US$400 million (S$515 million) for severance and other related costs.
The cuts here are believed to have come selectively across its investment bank, markets team and private bank.
A Citi spokesman in Singapore confirmed on Wednesday that there have been layoffs.
- The Straits Times
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