Sunday, May 26, 2024
HomesingaporeAnalysis: Citigroup’s layoffs, ‘sweeping’ restructuring in uncertain economic period unlikely to affect...

Analysis: Citigroup’s layoffs, ‘sweeping’ restructuring in uncertain economic period unlikely to affect Singapore’s financial sector

SINGAPORE — Citigroup’s plans to reorganise management and cut jobs came as no surprise to analysts and economists, who said that the uncertain macroeconomic environment, along with stiff competition from emerging financial technology companies, have made it necessary for banks such as Citi to streamline their resources to remain competitive. 

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