Citigroup is reportedly expected to cut further roles in March after after axing roughly 1,000 jobs earlier this month.

According to two sources at Reuters, the layoffs will likely be announced after bonuses are paid.

The sources did not specify the scale of the job cuts or which departments they would be tied to.

However, they did say that the lay offs will likely impact senior roles and managing directors.

They told Reuters that some senior managers have already been reassigned to different departments to secure their positions before the bank's planned job cuts.

Citigroup declined to share comment with the news agency about the layoffs but pointed the organisation to comments made by the bank's chief financial officer Mark Mason earlier this month on an earnings call, in which he said that he expects “headcount to decline in 2026.”

"We have been reducing headcount and expect that trend to continue as we take a step back and look at the trajectory of our expense base," Mason explained to analysts in a separate earnings call, adding that the bank spent $800 million on severance payments last year.

The move comes as the bank continues its broader focus on streamlining its structure and addressing regulatory failings which have led to significant fines in recent years.

According to Reuters, the bank's workforce was reduced from 240,000 in 2022 to 226,000 staff by the end of 2025.

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