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Citigroup cuts more jobs to meet expense goals, Bloomberg News reports


Published on 2025-01-16 15:00:48 - Reuters
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  • Citigroup is cutting more jobs this week to meet CEO Jane Fraser's expense goals, Bloomberg News reported on Thursday, citing people familiar with the matter.

Citigroup Inc. is planning to cut more jobs as part of its ongoing reorganization efforts, according to a Bloomberg report on January 16, 2025. The bank, which has already reduced its workforce by about 10% since September 2023, is now targeting additional layoffs primarily in its investment banking and trading sectors. These cuts are part of a broader strategy to streamline operations and improve efficiency, following a year where Citigroup faced challenges including a significant drop in profits and a need to adjust to a shifting financial landscape. The exact number of job cuts was not specified, but the move is expected to help the bank meet its financial targets and adapt to regulatory changes and market conditions.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/citigroup-axes-more-jobs-bloomberg-reports-2025-01-16/ ]
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