Location: Jersey City, NJ.
Department affected: IT.
Based on news reporting.
Citibank Jersey City is planning to lay off 30% of its IT contractors as part of a restructuring effort. This decision comes amid broader changes within Citigroup, which aims to streamline operations and reduce costs. While specific numbers of affected employees have not been disclosed, the layoffs are part of a larger trend affecting the company's workforce. The exact timeline for these layoffs has not been provided, but they are expected to impact the IT department significantly. This move reflects ongoing challenges in the financial sector and the need for companies to adapt to changing market conditions.
LayoffTalk has tracked 20 layoff events at Citibank since August 2023, affecting a combined 7,720 employees.
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Estimated figure based on news reporting. Not yet confirmed by Citibank.
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