www.bloomberg.com
Citigroup will cut approximately 1,000 jobs this week, continuing CEO Jane Fraser’s aggressive restructuring plan aimed at reducing costs and improving profitability. These layoffs are part of a broader restructuring effort expected to eliminate 20,000 positions overall, potentially reducing the workforce from 200,000 to 180,000 employees. The move is designed to streamline operations and boost returns for shareholders, as the bank faces pressure to enhance its performance.
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