Is Citigroup laying off 1% of its workforce?

REUTERS/Andrew Kelly/File Photo Acquire Licensing Rights March 2 (Reuters) - Citigroup Inc (C.N) is laying off less than 1% of its workforce, excluding its remediation team working on a consent order, people familiar with the matter said on Thursday.

Is Citigroup cutting jobs?

Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant’s investment banking division among those affected. The cuts amount to less than 1% of Citigroup’s 240,000-person workforce, according to people familiar with the matter, who asked not to be named discussing personnel information.

Does Citigroup know how to write a job listing?

Citigroup may not know how to write a job listing, but it still knows how to drop the ax. And by “how,” we mean when, because some of its idle dealmakers—like those at Goldman Sachs, and presumably across the rest of the Street in the coming weeks — won’t be around for the big end-of-year check.

Who is affected by Citigroup's workforce cuts?

The cuts amount to less than 1% of Citigroup’s 240,000-person workforce, according to people familiar with the matter, who asked not to be named discussing personnel information. Staffers across the firm’s operations and technology organization and US mortgage-underwriting arm are also among those affected.