October 23, 2014
LAS VEGAS (AP) - Citibank will close its Las Vegas mortgage division by the end of the year, leaving 760 employees without jobs.
The New York-based company on Monday announced that the closure is part of a nationwide reduction effort that will results in 1,000 layoffs.
Similar jobs are being eliminated in Irving, Texas, though the company says most of those employees will be reassigned to other positions at that location.
Citibank says the move is a response to a decreased demand for new mortgages and refinancing of loans.
Most of the layoffs will occur by Dec. 20.
A Citibank call center employing about 350 people in Las Vegas will not be affected by closure of the mortgage division.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.