Citibank has implemented more extensive layoffs than previously disclosed, impacting middle and back-office roles across various U.S. locations. These cuts have affected long-tenured employees and teams involved in critical functions like regulatory reporting and risk management. The bank attributes these reductions to ongoing transformation efforts, technological efficiencies, and aligning staffing with business needs. Some eliminated positions have been automated or moved offshore to locations like Costa Rica. Further workforce adjustments are anticipated in the coming weeks as Citi continues its efficiency drive.
https://www.efinancialcareers.com/news/citi-s-2026-layoffs-have-been-more-frequent-and-widespread-than-we-thought