Goldman and Citigroup begin cutting jobs

Goldman made a fresh round of reductions affecting about 15 dealmakers, including nine from equity capital markets, while Citigroup may eliminate more than 20 jobs, mostly at junior levels, a source said. — Bloomberg

LONDON: Goldman Sachs Group Inc and Citigroup Inc are starting to cut 35 more 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 say.

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.