Citi lays off 10 research staff in Asia Pacific as part of global revamp, sources say

By Thomson Reuters Mar 27, 2024 | 2:46 AM

By Kane Wu and Selena Li

HONG KONG (Reuters) – Citigroup Inc has laid off at least 10 people in its equities research department in Asia Pacific this week, two sources with knowledge of the matter said, as the bank pushes through the last phase of a sweeping global overhaul.

The bank, which has hundreds of employees in its equities research unit in the region, notified the impacted staff earlier this week, said the sources, who declined to be named as they were not authorised to speak to the media.

(Reporting by Kane Wu and Selena Li; Editing by Sumeet Chatterjee)