American multinational investment bank and financial services company Citigroup is set to lay off 286 employees in New York.
The bank, which is carrying out a major overhaul, had, in January, said it would cut 20,000 jobs over the next two years.
According to a Reuters report, three separate notices from the company showed that this round of layoffs would affect 239 employees from its primary banking subsidiary, 44 from its broker-dealer unit, and three from its technology segment.
In January, chief financial officer of the company Mark Mason said Citigroup was planning to reduce its global workforce by 8 per cent through 2026.
Citigroup CEO Jane Fraser had, in September, announced the sweeping reorganisation plan to simplify the bank's structure after divesting from non-core markets and focusing on profitable areas.
