Goldman, Citigroup Begin Cutting About 35 Dealmakers Across Asia
- Citigroup starts notifying staff, may cut about 20 jobs
- Asia stock underwriting slumps by a third from first quarter
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Goldman Sachs Group Inc. and Citigroup Inc. are starting to cut another 35 investment-banking jobs across Asia this week, after revenue from stock sales and mergers slumped further in the second quarter, people familiar with the matter said.
Goldman made a fresh round of reductions affecting about 15 dealmakers, including nine from equity capital markets, the people said, asking not to be identified because the matter is private. Citigroup may eliminate more than 20 jobs, mostly at junior levels, one of the people said.