Citigroup Inc. is set to cut about 1,000 jobs this week as part of Chief Executive Jane Fraser’s march to keep a lid on costs and improve returns at the Wall Street bank.

Citigroup is set to cut about 1,000 jobs this week, a source familiar with the matter told Reuters on Monday, as part of a plan announced two years ago to reduce the workforce by 20,000 by the end of this year.

Citigroup Inc. (NYSE:C) is one of the stocks Jim Cramer shared his thoughts on. Cramer highlighted the situation of the bank’s Russian operations while discussing its recent quarter, as he commented: “Last but not least,

Around 4,000 employees globally have volunteered to fan out across their business units as "AI accelerators."

Citi’s shares gained 65.8 per cent in 2025, outperforming peers and an index tracking broader bank stocks by a wide margin. The bank bought back US$13.25 billion in stock last year, and its shares are down 0.8 per cent so far this year. REUTERS

The Bank of Japan will potentially raise interest rates three times this year to double the current level if the yen’s weakness persists, according to Citigroup Inc.’s markets head for the country.