Citigroup’s Canadian unit is laying off 12 investment bankers as the company downsizes operations worldwide, Reuters reports. Its Canadian clients will still be served by corporate bankers and by investment bankers outside the country, a spokeswoman said.

Robert Gemmell, president and ceo of Citigroup Global Markets Canada, is among those leaving by mid-December. The bank has said it will cut 52,000 jobs world-wide.

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