Citigroup cuts 20,000 US jobs
John Keeble/Getty Images Citi says 40,000 jobs will be lost after it freezes the bank's Mexican retail arm. New York CNN — Citigroup will lay off
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John Keeble/Getty Images Citi says 40,000 jobs will be lost after it freezes the bank's Mexican retail arm. New York CNN — Citigroup will lay off
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Citigroup will lay off 20,000 employees over the next two years, CFO Mark Mason said Friday. The reduction comes after the company reported a $1.8 billion net loss for the fourth quarter of 2023, its worst quarter in 15 years.
The lender, which has 239,000 employees worldwide, will reduce that headcount as part of a sweeping reorganisation
The reductions are part of a sweeping reorganisation, and equal about 10% of the bank's global workforce.