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Citigroup is laying off 20,000 employees

Citigroup is laying off 20,000 employees

NYC-based bank Citigroup announced 20,000 job cuts in the wake of its poor performance in its latest quarter losing $1.8 billion. "The fourth quarter was very disappointing," Citi CEO Jane Fraser said in a statement, although she hopes 2024 will be a "turning point" for the company.