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In a significant move that reverberates through the financial sector, Citigroup, headquartered in New York City, has announced plans to implement a massive workforce reduction, slashing 20,000 jobs over the next two years.
Liz Warner reports.
This strategic decision comes as Citigroup aims to streamline its operations, adapt to changing market dynamics, and enhance overall efficiency. The job cuts represent a substantial portion of the bank's workforce, signaling a comprehensive restructuring initiative.
The financial giant has not provided detailed information on which specific departments or regions will be most affected by the layoffs. However, the scale of the. . .
