Citigroup to make redundancies - memo

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Citigroup is set to make a round of redundancies within its markets and securities business in the Europe, Middle East and Africa region, according to an internal memo sent to staff Tuesday and seen by IFR.

Reuters reports that the memo didn't specify how many staff would be affected by the move, but one source at the US bank said the number of people affected would not be much higher than 20 - the threshold that requires companies to start a consultation under UK law.

To access the complete Reuters article hit the link below:

Citigroup set for redundancies in EMEA markets business

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