Citi to Cut About 1,000 Jobs This Week as Fraser Trims Costs

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.

The company, which had 227,000 employees at the end of September, is culling its ranks as part of a plan announced two years ago to eliminate 20,000 jobs by the end of 2026, according to people familiar with the matter who asked not to be identified discussing non-public information.

CEO Jane Fraser

Photographer: Qilai Shen/Bloomberg

Streamlining the bank and cutting waste has been a key goal for New York-based Citigroup, whose ...