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Matt Buck
These new layoffs are expected to happen after the bonus payments are done, as per the same sources.
Citigroup's CEO, Jane Fraser, is still working on reorganizing the bank to save costs, deal with regulatory issues, and make the business more profitable.
A source says the March layoffs will probably include managing directors and senior workers from different areas of the bank. Some executives have already been moved to other parts of the company to keep their jobs, the source said.
Another source mentioned that many senior staff were also affected by the recent layoffs.
This month, Citigroup's CFO, Mark Mason, told investors in a conference call that he expects the number of employees to go down by 2026.
At the end of last year, the bank had 226,000 employees.
source: reuters.com
Citigroup's CEO, Jane Fraser, is still working on reorganizing the bank to save costs, deal with regulatory issues, and make the business more profitable.
A source says the March layoffs will probably include managing directors and senior workers from different areas of the bank. Some executives have already been moved to other parts of the company to keep their jobs, the source said.
Another source mentioned that many senior staff were also affected by the recent layoffs.
This month, Citigroup's CFO, Mark Mason, told investors in a conference call that he expects the number of employees to go down by 2026.
At the end of last year, the bank had 226,000 employees.
source: reuters.com
