Wall Avenue layoffs select up steam as Citigroup and Barclays minimize hundreds of personnel

Wall Avenue layoffs select up steam as Citigroup and Barclays minimize hundreds of personnel


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.



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