Citibank to keep spending despite staff cull

Singapore – Citibank is cutting 53,000 jobs worldwide, but says it has no plans to cut its marketing budget in Singapore.

Citibank announced earlier in the week that it will be shedding more than 50,000 staff globally, with jobs in Asia Pacific to included in the cuts.

However Citibank has declined to comment on whether marketers in Asia Pacific will part of the job cull. A Citibank Singapore spokesperson said he was unable to give a breakdown on the cuts by department or by country.

The spokesperson said at the moment Citibank has no plans to slash its marketing budget in Singapore, and said he was unaware of any marketing budget cuts in any Asia Pacific markets.

“Singapore is an important market for us and at this point, we have no plans to cut our marketing budget,” the spokesperson said.

In Asia Citibank has worked with a number of agencies across Asia including Publicis, Communion-W, Proximity and Volcanic, among others.