Leading foreign lender in the country, Citibank has indicated laying off 100 of its employees serving at various positions in India. The bank also has plans to take away 4,500 jobs worldwide.
Earlier in December 2011, the bank said that for cost reduction and considering the reducing revenues, the bank will go for job cuts.
In a statement Citi Bank said, "Citigroup continuously reviews its internal processes and organisational structure to right size the organisation for efficient growth."
"International and emerging markets comprise a very significant component of Citi's growth strategy and India is amongst its highest priority markets within this strategy," the bank said.