10:05 AM EDT, 03/27/2024 (MT Newswires) -- (Updates with Citigroup's ( C ) response in the fourth paragraph.)

Citigroup ( C ) has laid off at least 10 employees this week in equities research in the Asia-Pacific region, Reuters reported Wednesday, citing two unnamed sources familiar with the situation.

The bank notified the impacted employees earlier this week, the report said, citing the sources.

One source told Reuters that the US banking giant will continue making cuts this week across all divisions in the Asia-Pacific region, including in investment banking, the report said.

Citigroup ( C ) declined MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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