Citi to cut 50 London investment, corporate banking jobs: Report

Citigroup is planning to cut 30 investment banking jobs and 20 more in its corporate banking unit in London amid adverse market conditions, Bloomberg reported. It's reportedly also dismantling its global team that provides commentary and analysis on foreign-exchange markets. This comes after it was reported in March that Citi is laying off nearly 1% of its around 2,40,000-strong workforce.