This week will lay off 1000 people? Citigroup responds

There are reports that Citigroup will lay off about 1000 people this week, as one of the measures taken by CEO Jane Fraser to control costs. Citigroup responded by saying, "We will continue to reduce our workforce in 2026. This adjustment is not only to ensure that the allocation of personnel, office locations, and professional skills are accurately matched with current business needs, but also benefits from the efficiency improvement brought by technological empowerment, and it also confirms the phased achievements of our transformation work, which is currently close to the target state."