Citigroup is planning to cut 370 jobs in consumer banking business section in the middle of next year in the Des Moines-area of Iowa.
They represent over two-thirds of the bank’s total workforce in the area.
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Citigroup has informed its employees about the layoffs last week and will have about 170 employees in the metro area following the job cuts.
Janis Tarter, company spokesperson, said, "This decision is part of our ongoing efforts to increase the efficiency of our operations in response to changing business needs."
The group also announced 120 lay off in its mortgage operations in Des Moines-area in last year July.
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