Location: New York, NY, USA.
Based on news reporting.
In August 2023, Citibank announced the layoff of 500 employees as part of a restructuring effort aimed at streamlining operations. The job cuts primarily affected positions in New York, NY, as the bank seeks to adapt to changing market conditions and improve efficiency. This decision reflects Citibank's ongoing strategy to reduce costs and enhance profitability in a competitive banking environment. The layoffs are part of a broader trend in the financial services sector, where many firms are reevaluating their workforce in response to economic pressures.
Citibank cut 500 jobs as of August 1, 2023.
That is roughly 0.2% of the 210,000 people Citibank employs.
LayoffTalk has tracked 20 layoff events at Citibank since August 2023, affecting a combined 7,720 employees.
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