Citigroup Plans at Least 2,000 Job Cuts Next Month
- Reductions are part of Corbat's efforts to restructure firm
- Bank said to have already held discussions with some workers
Citigroup Said to Cut 2,000 Jobs Next Month
This article is for subscribers only.
Citigroup Inc. plans to cut at least 2,000 jobs starting next month as Chief Executive Officer Michael Corbat restructures some of the bank’s businesses.
The substantial portion will be in middle or back-office positions, according to a person briefed on the plans, who asked not to be identified discussing personnel matters. The reductions are part of a repositioning the firm announced this month and will occur across the New York-based lender’s global footprint, people familiar with the matter said.