How many jobs did Citigroup lose in 2022?

November 8, 2022, 9:06 AM PST Updated on November 8, 2022, 9:51 AM PST Citigroup Inc. eliminated dozens of jobs across its investment banking division this week, as a dealmaking slump continues to weigh on Wall Street’s biggest banks.

What happened to Citigroup?

New York-based Citigroup let go of roughly 50 trading personnel this week, according to people with knowledge of the moves who declined to be identified speaking about layoffs. The firm also cut dozens of banking roles amid a slump in deal-making activity, Bloomberg reported Tuesday.

Is Citigroup's layoffs a good thing?

Citigroup is a pretty good bellwether for where the industry is going, so its news yesterday—just in time for Christmas—of layoffs for more than 11,000 people has many ramifications for an industry struggling to find its way.

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.