Citigroup Inc plans to cut at least 2,000 jobs starting next month as the lender restructures its businesses, Bloomberg reported. A substantial portion of the layoffs will be in middle or back-office positions, Bloomberg reported, citing a person briefed on the matter. The bank, due to report fourth-quarter earnings on January 15, had 239,000 employees as of the end of September.
Citigroup said this month it would take a $300 million "repositioning charge" in the quarter to "resize infrastructure and capacity" throughout its businesses.