Citigroup is awarding a special payment to nearly 40% of its employees who are most likely to be hit by economic problems created by the coronavirus.

Mike Corbat, chief executive of Citi, sent a memo saying that 75,000 staff would receive “special compensation award to help ease the financial burden of this situation”. In the US, all staff earning under $60,000 will receive the award, but the threshold will vary by region.