Depository bank Citi has trimmed staffing levels in its mortgage business, following surging rates and a reorganization of its operations. 

“Citi has made a small number of staffing reductions within our mortgage team due to internal streamlining of functions,” a spokesperson said in a statement. Bloomberg News first reported on the layoffs and reported that fewer than 100 jobs were cut. 

The spokesperson said that Citi is “doing our best to support each individual by helping them to find new employment opportunities within Citi or outside the firm.”

Citi was the 19th-largest residential mortgage lender in America by origination details ⇒

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