Financial services provider Citigroup streamlines its worldwide operations. The operation implies the loss of 11,000 or more jobs.
The company estimates that 6,200 positions will be lost in Global Consumer Banking, among others in consumer operations in Romania. Another 1,900 jobs will be lost in its Institutional Clients Group. In Europe, the company will reduce in Hungary four branches in that department. 350 jobs will be eliminated at Citi Holdings, notably in Greece and Spain. 2,600 positions will be lost in supporting services and Global Functions.