Citis Australian workforce are bracing for layoffs as the US bank rolls out a global restructuring that will involve thousands of job losses.
Local positions under threat included back-office roles, such as compliance and risk, while Citis broker-dealer arm could have some staff reductions, people familiar with the reorganisation told The Australian Financial Review. A later phase of job losses may affect Citis investment bankers, the people said.
Citigroup chief executive Jane Fraser has reorganised Citi into five business lines. Bloomberg
It was not immediately clear which positions would be axed, but Australian-based roles with broader Asia-Pacific duties could be cut.
Citi remains very comm…
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