Citigroup Inc. is laying off about 100 employees this week in its credit card business, according to a person familiar with the matter. Seventy-five more employees are to be laid off in the personal wealth management group.
The job cuts come amid a broader corporate restructuring at Citi. Its head count, at 279,000 in the second quarter, is down from a peak of 375,000 in 2007.
In the credit card business, the job cuts will focus on non-client-facing roles, said the person. In the personal wealth management group, layoffs will include branch-based advisers, said the person familiar with the matter.