Citigroup posts steady profit as it plans shake-up

The banking giant employs almost 3,000 people in Ireland

Citigroup's profit was broadly steady and beat third-quarter estimates as it benefited from a surge in trading revenue and investment banking fees. 

The bank said it will cut management layers from 13 to eight as part of a sweeping re-organisation. In the two top layers of management, 15% of functional roles were reduced, Citi said in a presentation.