Citigroup Inc said it would cut about 100 jobs in India, where it has been expanding rapidly, while reiterating that the country remained among its highest priority markets.
The third-largest US bank by assets did not give a reason for the cuts, but a source with direct knowledge of the matter said it was part of CEO Vikram Pandit's plan to slash 4,500 jobs worldwide.Citigroup hired more than 1,500 staff in India in 2011, the bank said in a short statement announcing the layoffs.Citi, one of the top three foreign banks in India along with Standard Chartered and HSBC, has about 7,000 staff in the country and operates across several businesses...
