International banking major Citigroup on Tuesday said it will lay off 100 employees in India as part of its global restructuring exercise.
"Citigroup continuously reviews its internal processes and organisational structure to right size the organisation for efficient growth. As a result of this exercise, Citi India has identified approximately 100 positions that will be impacted within the bank," it said in a statement.
When contacted, a spokesperson of Citigroup told PTI that the job losses are part of the group's announcement last month to axe 4,500 jobs globally.
None of the company's operations or verticals will be affected because of the lay-offs which will be carried out in the next few days, the spokesperson said.
The spokesperson declined to give any additional details, like the positions in the hierarchy and the verticals where job losses are happening in India. He merely said that the company is in the process of informing the employees concerned.