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Citi, Goldman Layoffs Continue Abroad
By
Cristina McEachern Gibbs
December 10, 2008
According to reports, Citigroup is continuing its layoffs with 1,000 jobs cuts at its Japanese brokerage unit.
The Nikko Cordial Securities unit said the cuts were achieved through early retirement of the 1,000 employees that accepted severance offers.
The cuts total about 14 percent of the Japanese unit's total workforce.
In addition, Goldman Sachs is said to be laying off up to 250 employees in Europe, mostly from its London offices. That number accounts for about 4 percent of the firm's staff in Europe.
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