[UK] Future Mortgages - Citigroup - Subprime
2008-05-22
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stories: thehindubusinessline.com
The Hindu Business Line reports today that Citigroup will close a Doxford call center and CitiFinancial branches in the country, at a cost of some 700 jobs.
"The bank is closing down Future Mortgages, its mortgage operation, and CitiFinancial, its unsecured loans business. It would close down 49 CitiFinancial branches in the country."
According to the article, "Some may be offered jobs elsewhere in the group," but it was not indicated how many employees specific to Future Mortgages would be affected.
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Important: This company is on our list of lending operations that have "imploded". However, please note that "imploded" is a somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or "firesale" acquisition. All information here is provisional, and may contain inaccuracies (especially newer information). If you are planning on doing business with this company or any other one listed on this site, you should inquire with them directly on whether they can still meet your needs. Many are still operating in some capacity.