Citigroup Plans 60,000 Job Cuts by 2026 Due to Automation
SOURCENews reportView the filing ↗
What we know
Based on news reporting.
Summary
Citigroup Inc. has announced plans to cut 60,000 jobs by the year 2026 as part of a strategic shift towards automation in the global banking sector. This decision reflects the company's response to evolving market demands and the need to streamline operations. The layoffs are part of a broader trend in the banking industry, where automation is increasingly redefining job roles and responsibilities. While specific locations and departments affected have not been disclosed, the scale of the cuts indicates a significant restructuring effort within the organization. The planned layoffs are expected to take place over the next few years, aligning with the company's long-term vision for operational efficiency.
Citibank cut 60,000 jobs as of December 31, 2026.
That is roughly 28.6% of the 210,000 people Citibank employs.
LayoffTalk has tracked 30 layoff events at Citibank since January 2023, including 1,259 jobs documented in official WARN filings, with 23 additional events known from news reporting.
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Estimated figure based on news reporting. Not yet confirmed by Citibank.
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