Citigroup to lay off 20,000 employees
Layoffs follow 'very disappointing' fourth quarter for bank
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Layoffs follow 'very disappointing' fourth quarter for bank
US banking and financial services giant Citigroup is planning to lay off 20,000 of its workforce - roughly 8 per cent of its 239,000 global headcount by 2026, as part of a mega restructuring.
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Citigroup, the US’ third-largest bank by assets, is eyeing a rebound in 2024 with a major restructuring under Scottish chief Jane Fraser.
Citigroup restructure: The bank will reduce headcount by around 20,000 in the next two years, executives have said.