Citigroup warns staff in UK over potential lay-offs 

Citigroup employs 2,900 people at its Citibank Europe head offices in Dublin, but it is unclear whether the global review will have any significant fall-out in the Republic

The bank did not tell employees in Britain and in Belfast how many jobs would be eliminated. 

Citigroup has warned UK-based employees of the likelihood of redundancies as the lender pushes ahead with a sweeping re-organisation, according to a memo seen by Reuters, a move that could affect hundreds of jobs in the country.

The bank, which has about 16,000 employees in Britain and the North, said it was moving into phase two of its plans to rationalise its banking structure and as part of that would set up a consultation process whereby employees can give their feedback.

"We anticipate that the reviews may lead to a reduction in roles in some parts of the business, and changes to some other roles. In some cases, colleagues may be placed at risk of redundancy," James Bardick, UK Citi country officer, told employees in the memo. 

The bank did not tell employees in Britain and in Belfast how many jobs would be eliminated. 

Bankers have been bracing for change after chief executive Jane Fraser said earlier this month that Citigroup, the third-largest US bank, would strip out a layer of management and cut jobs. In recent days in the US, Citi started discussions with employees about potential lay-offs. 

Citigroup employs 2,900 people at its Citibank Europe head offices in Dublin, but it is unclear whether its global review will have any significant fall-out in the Republic. A spokeswoman declined to comment. 

Reuters. Additional reporting Irish Examiner