Citigroup, one of the largest multinational investment banking and financial services corporations, has recently announced its plans to reduce its headcount by a significant number over the next five years. The company expects to see a reduction of 20,000 employees by 2026.
This move comes as part of Citigroup's efforts to streamline its operations and adapt to the evolving landscape of the financial industry. With technological advancements and increasing digitalization, many banks have been reevaluating their business models and seeking ways to cut costs while remaining competitive.
