Citigroup will lay off 430 employees across several New York divisions, as revealed in documents sent to the US Department of Labor on Monday.
The layoffs will affect 363 employees of Citibank, its main banking unit. Workers in the technology and brokerage sectors will also be affected, the documents show.
Last week the bank completed a sweeping restructuring, its biggest in decades, as part of an effort to simplify its structure and improve performance.
Announced in September, the reorganization reduced management levels from 13 to eight in an effort to reduce bureaucracy. Citi has also set a goal of reducing its global workforce by 20,000 people over the next two years.
The bank did not immediately respond to a request for further comment. According to the documents, the last layoffs are expected in June.
Source: Terra
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