Citigroup has announced it is to cut around 1,000 jobs its mortgage business in the US, amounting to around 8% of the 13,000 jobs in the division.
The bank said that there would be 760 staff reductions Nevada with a further 100 in Texas. The further cuts would be made up of staff who work from home.
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In a statement the bank said the jobs were being cut "in response to decreased demand for mortgage originations and refinancing."
Banks including Wells Fargo & Co, JPMorgan Chase & Co and Bank of America have announced thousands of layoffs in their home lending units in recent weeks.
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