Citigroup Prepares for Another Round of Layoffs in March Amid Transformation Plan
Business
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Moneycontrol•25-01-2026, 16:13
Citigroup Prepares for Another Round of Layoffs in March Amid Transformation Plan
- •Citigroup is set to implement another round of layoffs in March 2026, following approximately 1,000 job cuts in January.
- •The upcoming layoffs are expected to be announced after bonus payments, targeting managing directors and senior employees.
- •CEO Jane Fraser is leading a major transformation plan to reduce costs, address regulatory issues, and boost profits.
- •Some senior managers have already been reassigned to new divisions to secure their roles ahead of the staff reduction.
- •Citigroup plans to continue reducing its workforce into 2026, with headcount already decreasing from 240,000 in 2022 to 226,000.
Why It Matters: Citigroup is continuing its workforce reduction and transformation efforts, with more layoffs planned for March 2026.
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