A spokeswoman for Citigroup Ireland has said the US financial services company could decide to shed jobs at its Irish operations as part of a global redundancy programme.
The company yesterday put in place a plan to lay off 4,200 people - just over 1% of its staff - after it was badly hit by the US sub-prime mortgage crisis.
The spokeswoman said Citigroup had not issued a directive to its Dublin office, but a review of its global operations would be conducted over the coming months. Were jobs to go in Ireland, she said, it would be through a process of 'natural attrition' or voluntary redundancy.
But she said that Citigroup Ireland was confident that it would escape the global cull as it was a core part of Citigroup's business. Citigroup employs around 2,200 people in Ireland. It is understood that up to 300 jobs will be shed at its London operation. Citigroup recently reported its first quarterly loss since its creation in 1998.
