Citi(US:C) Xin Lang Cai Jing·2026-01-12 23:10Group 1 - Citigroup plans to lay off approximately 1,000 employees this week as part of a broader plan to cut 20,000 jobs by the end of this year, announced two years ago [1][3] - As of December 31, 2024, Citigroup has around 229,000 full-time employees according to its latest annual report [4] - The bank has indicated that layoffs will continue into 2026, reflecting adjustments to align employee levels, locations, and expertise with current business needs [5] Group 2 - CEO Jane Fraser has been restructuring the company since taking office in 2021, aiming to close the performance gap with competitors, which includes exiting most international retail banking operations and reorganizing core businesses [5] - Citigroup is set to announce its fourth-quarter earnings on Wednesday [2][5]