Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

11,000 jobs
Number of planned job losses
Job loss
Announcement Date
5 December 2012
Employment effect (start)
5 December 2012
Foreseen end date
30 June 2013


Financial services provider Citigroup streamlines its worldwide  operations. The operation implies the loss of 11,000 or more jobs.

The company estimates that 6,200 positions will be lost in Global Consumer Banking, among others in consumer operations in Romania. Another 1,900 jobs will be lost in its Institutional Clients Group. In Europe, the company will reduce in Hungary four branches in that department. 350 jobs will be eliminated at Citi Holdings, notably in Greece and Spain. 2,600 positions will be lost in supporting services and Global Functions.


  • 5 December 2012: Company press release


Eurofound (2012), Citigroup, Internal restructuring in World, factsheet number 74605, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74605.