Citigroup plans to cut 20,000 jobs over the next couple of years, the US bank said Friday, as part of a corporate reorganization designed to boost profits and return cash to shareholders.
The downsizing was laid out in a presentation released in connection with the New York-based lender’s fourth-quarter results. The move will put headcount at about 180,000 in the 2026 time period, down from 240,000 at the end of 2022 — while also reflecting the expected spinoff of Citi’s Mexico subsidiary, Banamex.
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Published: 12 Jan 2024, 09:00 PM IST