January 26, 2012 Himmat Mehra
The impact of global crisis is putting on the performance of banks that decides to cut of many jobs as a result of financial imbalance.
As per source report Citigroup in India will struck out about 4,500 jobs globally and 100 in its local business in India, beside it other HSBC, Bank of America Merrill Lynch and Barclays are deciding to cut off jobs in their Indian operations.
As per records, HSBC will show door to its employers in Indian operation units as it made 30,000 reductions internationally. Royal Bank of Scotland also decides to merge with others company that lead to more than a dozen reductions.
The decision is taken after analyzing global strategy that require for parent companies’ shrinking balance sheets to boost capital.