Citigroup to cut 20,000 US employees

Citigroup to cut 20,000 US employees

Jan 12,2024
New York CNN  — 

Citigroup will lay off 20,000 employees over the next two years, CFO Mark Mason said Friday. The reduction comes after the company reported a $1.8 billion net loss for the fourth quarter of 2023, its worst quarter in 15 years.

The bank also said it plans to lay off an additional 40,000 employees from its Mexican retail unit, bringing the total headcount for the company to around 180,000 from 240,000.

This story is developing and will be updated.

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