US BANKING giant Citigroup Inc's recent announcement that it plans to cut another 50,000 jobs worldwide is expected to hit its staff in Malaysia.
The group, through Citibank Bhd, employs more than 4,000 people across seven branches in Kuala Lumpur, Selangor, Penang and Johor.
Citibank Bhd chief executive officer Sanjeev Nanavati said staff numbers will be cut slightly as it seeks to be more efficient and productive. He did not give details.
Meanwhile, HSBC Bank Malaysia Bhd, OCBC Bank (Malaysia) Bhd and Standard Chartered Bank Malaysia Bhd (StanChart Malaysia) said they had no plans for retrenchment but had frozen recruitment.
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