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Citi expects more Md. jobs despite cuts

May 06, 2007|By ANDREW SCHOTZ

·About 4 percent of Citi's 5,900 Maryland employees will be cut or moved under a plan for restructuring.

Citi expects to gain jobs in Maryland despite companywide cuts announced last month, a spokesman said Friday.

About 4 percent of Citi's 5,900 employees in Maryland will be cut or moved under a restructuring plan, spokesman Robert Julavits said.

However, by the end of the year, the company expects a net gain of 170 jobs in Maryland, he said.

Julavits said Citi has decided not to release information about the local effects of the companywide restructuring plan. So, the exact number of jobs lost at Citi operations in Washington County and Frederick, Md., will not be released.

Citicorp Credit Services in Washington County has about 2,400 employees. The operation "primarily supports (Citi's) credit card business," according to a company summary.

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In Frederick, Citi has an office for its real estate lending business, Julavits said. About 800 people work there.

Three weeks ago, Citi announced it would cut and shift about 26,500 jobs. Of those, 17,000 would be eliminated and 9,500 would shift to "lower-cost locations," the company said.

Julavits said at the time that Citi would release information about Citicorp Credit Services only after all employees found out about the status of their jobs.

On Friday, though, he said no specific information would be released about any individual Citi operation.

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