Thursday, May 30, 2024

Up to 168 jobs at risk at Citigroup in Dublin

Must read

Up to 168 staff at Citigroup’s Irish operations are at risk of losing their jobs.

The development is part of a global reorganisation aimed at simplifying structures at the bank.

“Today, we updated our Citi Ireland colleagues on the next steps in our global reorganisation to align our structure with our strategy and simplify the bank,” a spokeswoman confirmed.

“As part of this, we will shortly enter a collective consultation process in Ireland.”

“Ireland remains an important European hub for Citi and the headquarters for Citibank Europe Plc.”

In January Citi said it would cut 20,000 jobs or 8% of its global workforce over the next two years, after posting a $1.8 billion loss driven by one-off charges.

Citi has had a presence in Ireland since 1965 and today serves clients from 160 countries from this country.

The company currently employs almost 3,000 people in its operations here.

Last year Citi announced plans to grow its commercial bank in Ireland.

The global banking giant is currently developing a new building in Dublin, at Waterfront South Central, which is being built by Johnny Ronan’s RGRE.

It is due to move into it in 2026.

Latest article