(Jan 13): Citigroup is set to cut about 1,000 jobs this week, a source familiar with the matter told Reuters on Monday, as part of a plan announced two years ago to reduce the workforce by 20,000 by the end of this year. The New York-based bank had about 229,000 full-time employees as of December 31, 2024, according to its latest annual report. The bank did not disclose the number of jobs to be cut, but said in a statement it would continue to reduce the headcount in 2026. CEO Jane Fraser, who took the helm in 2021, has been reshaping the firm to close a performance gap with rivals. Citi's U.S. retail footprint is much smaller than bigger rivals; it has about 650 branches concentrated in six major metropolitan areas.

Source: The Edge Markets January 13, 2026 18:28 UTC