Citigroup to cut 20,000 jobs after steep quarterly loss
Citigroup will cut 20,000 jobs by the end of 2026 after enduring a steep loss in the last quarter as it presses ahead with a sweeping restructuring. While…
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Citigroup will cut 20,000 jobs by the end of 2026 after enduring a steep loss in the last quarter as it presses ahead with a sweeping restructuring. While…
Fraser mentioned that efforts to streamline its structure will be mostly finished this quarter, resulting in savings of $1 billion and the removal of around 5,000 primarily managerial roles. Read more.
The bank plans to reduce its global workforce of 239,000 by 20,000, roughly 8 per cent of its staff, by 2026 as part of a comprehensive reorganisation, according to Chief Financial Officer Mark Mason, , citigroup, job cuts
By 2026, Citigroups employee count is expected to be around 180,000, down from 240,000 in 2022.
Citigroup plans to cut 20,000 jobs – about 10% of its global staff – over the next two years, as it pushes to streamline operations. The reductions are