Citigroup's Strategic Layoffs: A Path to Transformation?

Citigroup is planning another round of layoffs in March after cutting 1,000 jobs earlier. This move is part of CEO Jane Fraser's turnaround plan focusing on cost reduction, regulatory problem-solving, and profit enhancement. The layoffs will impact senior employees as the bank aligns with business needs and technological efficiencies.

Citigroup is set to announce another wave of layoffs in March, building on the 1,000 job cuts already executed this month, revealing efforts to streamline the bank's structure further. Sources suggest that once the bonus season concludes, more employees could find themselves facing termination.

The layoffs, targeting managing directors and senior employees, form part of CEO Jane Fraser's comprehensive strategy aimed at reducing costs, addressing regulatory challenges, and enhancing profitability. Fraser, since taking the helm in 2021, continues to push for technological advancements and operational efficiency.

Despite ongoing reductions, Citigroup insists these moves are necessary adjustments reflective of current business demands and strategic transformation goals. With recent regulatory relief, Citigroup's shares surged by 65.8% in 2025, highlighting the impacts of Fraser's ambitious realignment strategy.

(With inputs from agencies.)