Thousands to lose jobs as US banking giant Citigroup announces job cuts

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Thousands of people will lose jobs at Citigroup in 2024 as part of Chief Executive Officer Jane Fraser’s bid to boost the Wall Street giant’s returns. 

The New York City-headquartered firm said that it expects to incur as much as $1bn in severance and reorganisation costs. These costs would be incurred as part of the company’s process to eliminate 20,000 roles.

This is a breaking story. More information will be added soon. 

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