Type
Business expansion
Country
Germany
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

300 jobs
Number of planned job creations
Job creation
Announcement Date
10 April 2006
Employment effect (start)
Foreseen end date
31 December 2006

Description

In 2005, Citibank, a subsidiary of the international Citigroup, announced the expansion of its business in Germany despite not having reached its profit targets in 2005. The subsidiary of the international Citigroup currently employs 6,000 people at 330 German outlets. It announced the opening of ten new outlets and to create 300 new jobs.


Sources

  • 11 April 2006: Frankfurter Allgemeine Zeitung

Citation

Eurofound (2006), Citibank, Business expansion in Germany, factsheet number 63383, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63383.