New York, January 24 — Citigroup is preparing to implement another round of layoffs in March, following an initial reduction of 1,000 jobs earlier this month. The upcoming layoffs are part of CEO Jane Fraser’s broader turnaround plan, which emphasizes cost-cutting, regulatory compliance, and boosting profitability.
Sources indicate that the bank will focus on senior employees, including managing directors, as it seeks to align its workforce more closely with current business needs and technological advancements. The move is seen as a continuation of Citigroup’s efforts to streamline operations and improve efficiency.
The layoffs are expected to be announced after the conclusion of the upcoming bonus season, with further job cuts potentially affecting more staff. Fraser, who assumed leadership in 2021, has been steadily pushing for technological upgrades and operational improvements to strengthen the bank’s competitive position.
Despite ongoing staff reductions, Citigroup maintains that these measures are necessary adjustments aligned with its strategic goals. The bank’s recent regulatory relief has contributed to a significant surge in its stock price, which increased by 65.8% in 2025, reflecting investor confidence in Fraser’s comprehensive restructuring efforts.