Citigroup to Shut Almost Half of Greek Branches Amid Crisis
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Citigroup Inc., the third-biggest U.S. bank by assets, said it will shutter almost half of its branches in Greece as European lawmakers continue a three-year struggle to fix the country’s economy.
The lender will reduce its branches to 21 from 37, according to an e-mailed statement today from Shannon Bell, a spokeswoman for New York-based Citigroup. About 170 employees will lose their jobs as a result of the closures, said a person familiar with the situation, who requested anonymity because the numbers aren’t public.