Location: New York, NY.
Based on news reporting.
Citibank has announced significant layoffs affecting approximately 3,000 employees as part of its ongoing restructuring efforts. The layoffs are set to take place in New York, NY, and are part of a broader strategy to streamline operations and reduce costs. This decision comes amid challenging market conditions and aims to enhance the bank's efficiency. The company has indicated that these layoffs are necessary to adapt to the evolving financial landscape and maintain competitiveness. Citibank's management has expressed a commitment to supporting affected employees during this transition.
Citigroup Inc. cut 3,000 jobs as of October 1, 2023.
That is roughly 1.3% of the 229,000 people Citigroup Inc. employs.
LayoffTalk has tracked 13 layoff events at Citigroup Inc. since January 2023, affecting a combined 12,500 employees.
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