New York banks silent on FX job cut rumours

Citigroup confirmed that cuts have taken place in investment and corporate banking in New York, but a spokesperson and bank officials declined to give names or numbers of staff affected. "We continue a process of targeted reductions throughout our organisation that reflect current market realities, in an ongoing review of our businesses," said the spokesperson in New York.

Senior New York-based market officials told FX Week the bank had made some cuts in forex earlier this month.

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