Citigroup to lay off workers in Europe, Middle East: Report

Citigroup is laying off nearly 50 workers in Europe, Middle East and Africa, Reuters reported citing sources. The job cuts will reportedly impact people in director roles, including managing directors. Citigroup has nearly 6,000 employees across banking, capital markets and advisory activities globally. Citi's investment banking revenues in the third quarter were down 64% year-on-year.