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Citigroup cuts 286 New York jobs as Jane Fraser’s overhaul continues

The bank plans to reduce headcount by 20,000 people over two years

Citigroup has cut around 2% of employees across New York entities
Citigroup has cut around 2% of employees across New York entities Photo: Mike Kemp/In Pictures via Getty Images

Citigroup has cut nearly 300 New York jobs as the bank continues to strip out costs amid an ongoing overhaul kicked off by chief executive Jane Fraser in September.

The bank has cut 286 roles across three New York entities, according to filings with the Department of Labor in the city on 26 February. Of these, 239 hit Citibank NA, 44 are in its global markets division and a further three from Citigroup Technology.

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