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Citigroup restarts job cuts after coronavirus pause

September 17, 2020

The bank, which became the first Wall Street institution to appoint a woman as its CEO last week, employs around 204,000 people. The bank expects its cuts to affect 26,000 people in 2020.

Citi wasn’t alone in putting a pause in place. Many major banks placed job cuts on hold around March, including Wells Fargo, HSBC, and Morgan Stanley.

In a statement first reported by Bloomberg, the bank fails to mention which divisions would be affected by the cuts.

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