Overview
- The reductions continue a multi-year restructuring that targets eliminating about 20,000 roles by the end of 2026.
- Citi expects firmwide headcount to fall from roughly 227,000 to about 180,000 by late 2026, according to prior guidance from CFO Mark Mason.
- A large portion of the planned reduction relates to taking the Mexico retail banking unit public, which would remove tens of thousands of employees from consolidation.
- Shares slipped nearly 3% as investors reacted to the latest round of layoffs and the continued transformation.
- The move comes in a week when Citi is set to report full-year results on January 14, with further 2026 actions still planned.