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Citigroup Plans More Layoffs Amid Workforce Restructuring

1/25/2026

49 11 Full Breakdown

Summary

Citigroup Cuts Jobs

Citigroup Inc. plans additional layoffs in March after cutting 1,000 jobs earlier this month.
The reductions will target managing directors and senior employees as part of a plan to remove 20,000 roles by 2026.
CEO Jane Fraser said automation and technology will reshape the workforce.
Citigroup's workforce declined from 240,000 in 2022 to 226,000 by the end of 2025.
Citigroup's shares rose 65.8% in 2025, then dipped 0.8% in 2026.

Summary

Citi Job Cuts

Citi plans additional job cuts after bonus announcements.
Insiders express concern about a strict performance review system.
Citi's investment bank expenses remained flat last year.
Citi has adjusted its cost guidance for 2026 to target a cost ratio around 60%.
A spokesperson said the cuts reflect necessary adjustments to align staffing with business needs and ongoing transformation efforts.

History

Historical Context

The 2008 financial crisis severely impacted Citigroup, leading to over 100,000 job cuts as the bank struggled with massive losses from subprime mortgages. In 2021, Jane Fraser became the first female CEO of a major U.S. bank and initiated a restructuring plan, including cutting 20,000 jobs by 2026, reflecting a shift towards automation and adapting to market demands.

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Citigroup Cuts Jobs

Citigroup Inc. plans additional layoffs in March after cutting 1,000 jobs earlier this month.
The reductions will target managing directors and senior employees as part of a plan to remove 20,000 roles by 2026.
CEO Jane Fraser said automation and technology will reshape the workforce.
Citigroup's workforce declined from 240,000 in 2022 to 226,000 by the end of 2025.
Citigroup's shares rose 65.8% in 2025, then dipped 0.8% in 2026.

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