Citigroup cuts 20,000 roles by 2026 under Fraser restructuring
SOURCENews reportView the filing ↗
What we know
Based on news reporting.
Summary
Citigroup is eliminating about 20,000 roles by 2026, roughly 10% of its workforce, under the reorganisation chief executive Jane Fraser announced in January 2024, targeting $2.5bn of savings. The cuts have run in phases since late 2024. Separately, around 40,000 staff are expected to leave Citigroup with its Mexican consumer arm Banamex when that business is listed; those employees transfer with the business and are not redundancies, so they are not counted here.
Citibank cut 20,000 jobs as of March 1, 2026.
That is roughly 9.5% of the 210,000 people Citibank employs.
LayoffTalk has tracked 29 layoff events at Citibank since January 2023, including 1,259 jobs documented in official WARN filings, with 22 additional events known from news reporting.
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