Citigroup Reports Profit Growth Amid Job Cuts and Transformation Efforts

Citigroup reported stronger-than-expected profits driven by a rebound in dealmaking and increased investment banking fees, with record revenue in mergers and acquisitions advisory in 2025. Despite this financial growth, CEO Jane Fraser announced plans to cut about 1,000 jobs this week as part of a broader workforce reduction strategy. Fraser emphasized the need for higher performance and adaptation to automation and AI, signaling ongoing transformation efforts within the bank.