Citigroup to lay off 1,000 employees this week

Business Jan 13, 2026

Citigroup is letting go of about 1,000 employees as part of a bigger plan to reshape the company.
This move is just one step in their goal to cut 20,000 jobs by the end of this year—a big shift for a bank that had 229,000 staff at the end of 2024.

What's driving these layoffs?

The job cuts are meant to match staffing with what the business needs right now.
CEO Jane Fraser has been leading this overhaul since 2021, aiming to boost earnings and modernize how things run behind the scenes.
There have also been some leadership changes along the way, but Citigroup still has a smaller US branch network compared to rivals.
More details on how it's all going are expected when they share their latest results this week.