If you assumed your job at Citi was safe, you might want to think again. The long-anticipated Citi job cuts 2025 are still in motion, with around 10,000 layoffs yet to be executed.
Citi had originally planned to cut 20,000 positions, with roughly half already eliminated last year under the “Project Bora Bora” initiative.
CFO Mark Mason confirmed in a recent earnings call that the company expects to allocate $600 million toward severance payments in the upcoming financial year, signaling that the layoffs at Citi are far from over.
Citi Job Cuts 2025 Strategy – A Deeper Look:
This year’s projected severance spending is twice Citi’s usual annual expense of $300 million but about 14% lower than last year’s.
This suggests that while the number of Citi layoffs may still be significant, they might be targeting different employee groups.
Last year, many high-earning employees with substantial severance packages were let go.
Now, the focus could shift toward junior staff and those in middle and back-office roles.
If Citi is planning to spend $600 million while cutting 10,000 jobs, it implies that many affected employees likely earn around $100,000 annually, with an additional $20,000 in deferred compensation.
The investment banking division is also expected to contribute to the job cuts at Citi, raising concerns about which roles are at risk.
Could the Cuts Be Scaled Back?
Some had hoped that Citi layoffs might slow down as business conditions improved.
Historically, banks have adjusted their cost-cutting measures when revenue growth exceeded expectations.
For instance, Deutsche Bank reduced its planned layoffs in 2022 when its financial outlook improved.
However, Citi seems determined to meet its cost-cutting goals, making it unlikely that the Citi job cuts news will ease anytime soon.
Goldman Sachs offers a different perspective—rather than aggressively cutting jobs, it has maintained profitability by keeping its compensation-to-revenue ratio at historically low levels, even while increasing headcount.
This raises the question:
Is Citi making the right move by pushing forward with large-scale Citigroup layoffs?
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Concerns Over Citi’s Layoff Decisions:
There are growing complaints that Citi has been cutting the wrong people.
Many executive assistants and mid-level managers have already been let go, leaving fewer obvious roles to eliminate.
If the company continues with its aggressive cost-cutting during an economic upturn, it risks losing valuable talent.
Employees are left wondering:
Who else will be impacted by these Citi layoffs?
Banking Industry Trends: Layoffs and Workforce Adjustments:
Interestingly, the financial industry as a whole is witnessing significant workforce shifts.
Goldman Sachs CEO David Solomon recently spoke about “optimizing organizational footprint” and “calibrating the pyramid structure”—phrases that hint at potential layoffs, restructuring, or shifting roles to offshore locations.
This could involve increasing reliance on back-office hubs in India or expanding operations in emerging markets like Saudi Arabia.
For Citi employees facing uncertainty, work from home opportunities and internal role shifts might be the only viable options to avoid being affected by the Citi layoff news.
Meanwhile in the Finance World…
- Business school graduates, including those from top-tier programs, are struggling to land finance jobs, with some applying to thousands of positions without success.
- Goldman Sachs is scaling down its principal investments division but has managed to turn a profit while offloading assets.
- Some former banking professionals who retired early are realizing that stepping away from high-pressure finance jobs isn’t as fulfilling as expected.
- Social media influencers with finance backgrounds, like Danielle Pheloung, are considering a return to wealth management due to uncertainties around platforms like TikTok.
- Asset management firms in Los Angeles are activating disaster recovery plans as wildfires impact their offices.
As the Citi job cuts 2025 continue to unfold, employees and industry watchers alike are keeping a close eye on how these changes will reshape the banking sector.
Will Citi’s aggressive cost-cutting strategy pay off, or could it backfire in the long run?
Only time will tell.
Hey, I am Sachin Ramdurg. I run and manage futuredecider.com website that helps students, graduates, and professionals, to find and decide on their future career with ultimate future career advices and future career guides. I have an overall 12+ years of career guidance experience in multiple domains which has helped multiple students, graduates, and professionals to find the best career path for their future.