Citibank Ltd., the Australian commercial banking unit of Citicorp, may cut staff by up to 300 employees, a spokeswoman in New York confirmed.

At the latest count, Citicorp's Australian unit had nearly $8 billion of assets and 13 branches in major Australian cities.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.