A green traffic light is pictured in front of a sign board of a Citibank branch in Hanoi, Vietnam July 8, 2015. REUTERS/Kham

Citigroup Inc (C.N) plans to cut at least 2,000 jobs starting next month as the lender restructures its businesses, Bloomberg reported.

A substantial portion of the layoffs will be in middle or back-office positions, Bloomberg reported, citing a person briefed on the matter. (bloom.bg/1Qv4088)

Citigroup said this month it would take a $300 million “repositioning charge” in the fourth quarter to “resize infrastructure and capacity” throughout its businesses.

Citigroup, due to report fourth-quarter earnings on Jan. 15, could not be immediately reached for comment.


[Source:- reauters]

By Adam