Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Citibank has given redundancy notices to all 130 employees at its consumer banking operations in Stockholm, Sweden. The company's total number of employees in Sweden is 170.
The redundancies are part of Citibank's strategy to change its focus from the private customer sector to corporate customers in Sweden. The bank has been negotiating with trade unions.
Eurofound (2009), Citibank, Closure in Sweden, factsheet number 69946, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69946.