City Of London
Citigroup, Barclays Join Rivals in Cutting Investment-Banking Jobs
- Reductions follow dramatic slide in revenue from the business
- Wall Street is also resuming annual cull of underperformers
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Citigroup Inc. and Barclays Plc started eliminating jobs in their investment-banking operations, joining other major banks in responding to plunging revenue from the business.
Dozens of positions at New York-based Citigroup were cut this week, while reductions expected to eventually total about 200 have begun at London-based Barclays, according to people familiar with those moves.