Important Points
- New York-centered Citigroup enable go of around 50 investing staff this 7 days, in accordance to individuals with knowledge of the moves who declined to be determined speaking about layoffs. The company also minimize dozens of banking roles amid a slump in deal-producing exercise, Bloomberg described Tuesday.
- London-primarily based Barclays lower about 200 positions throughout its banking and investing desks this week, according to a man or woman with understanding of the conclusion.
- Underperformers may perhaps also be at threat at JPMorgan Chase, which will use selective conclusion-of-year cuts, attrition and smaller sized bonuses to rein in expenses, according to a person with expertise of the bank’s designs.