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00:02Citigroup is expected to carry out another round of layoffs in March after cutting about
00:061,000 jobs earlier this month, according to Reuters. The reductions are expected to be
00:12announced after bonuses are paid, though the scale and locations were not specified.
00:17The cuts are likely to affect managing directors and senior employees across business lines.
00:22Citi declined to comment and pointed to remarks from Chief Financial Officer Mark Mason,
00:26who said he expects headcount to decline in 2026.
00:30Citi's workforce fell from $240,000 in 2022 to $226,000 by the end of last year.
00:37The bank spent $800 million on severance in 2024 and continues a broader reorganization
00:43under CEO Jane Fraser as regulatory actions are lifted.
00:48For all things money, visit Benzinga.com.
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