Layoffs Watch '16: Citigroup

Cuts are said to be going down at the House of Corbat.

From the front lines:

"Layoffs started yesterday at Citigroup-- they laid off in compliance and legal. Today is risk and the business at 388 Greenwich. The biggest hits are expected to be in are consumer and ICG. Everyone who is being cleared has less than an hour to leave. Some are escorted from desks and sent to HR and their accounts in the system are shut ASAP and equipment removed from their desks within the hour."