363 New York employees and 430 overall laid off by Citigroup as part of CEO Jane Fraser's plan to eliminate 20,000 roles and achieve $2.5B savings.

Citigroup Inc. is continuing its workforce reduction plan, laying off 363 employees in New York and 430 overall. The bank aims to eliminate 20,000 roles, a move initiated by CEO Jane Fraser to streamline operations and achieve $2.5 billion in savings. The recent job cuts primarily impacted the technology, media, and telecom sector within the US investment bank.