SINGAPORE Citi Singapores workforce has shrunk by about 500 people, following the US lenders sweeping global restructuring that it says promotes faster decision-making and will thus help it better capture wealth and trade flows between Singapore and the region.
The bank currently has 8,000 full-time and contract staff here, The Straits Times has learnt, down from 8,500 reported in October 2023. It has eliminated management layers and other roles focused on the Asia-Pacific, in line with broader efforts to streamline its operations.
These include regional consumer roles which no longer exist, as Citi has exited its consumer banking businesses in various markets.
Singapore Citi country officer Tibor Pandi said some staff have moved to th…
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