Citi Layoff 2024 May. Citigroup is in the last phase of a sweeping overhaul to simplify its structure and improve performance, the bank said, after shrinking its workforce by 5,000 employees since. On friday, the bank said it planned to cut some 20,000 jobs from its workforce by the end of 2026.
Some citigroup employees who are being laid off this week in new york, part of one of the biggest job reductions at a bank since the financial crisis, are expected to be paid. The action could save the bank as much as $2.5 billion.
