Named to the top job nearly five years ago, Jane Fraser is winning investor favor with rising returns as the bank’s share ...

Citigroup on Friday said it will slash 20,000 jobs. The reductions will happen 'over the medium-term,' something that should ultimately bring its expenses down by $2-2.5 billion, Citi said.

Citigroup CEO Jane Fraser announced that she was implementing a massive reorganization known internally as "Project Bora Bora," which is set to include a hefty round of layoffs, according to a report.

Citigroup said its plans include "shrinking the size of corporate centers," several of which are in New York. It also expects to move some 9,500 jobs to lower-cost locations.

Spiral Binding, a plastic fabrication company in Totowa, is letting go of 137 employees. Citibank is laying off 52.

Citigroup advanced $1.42, or 4.1 percent, to $35.71 at 10 a.m. in New York. Management is “rationalizing the business in an intelligent way,” Appaloosa Management LP’s David Tepper said.

NEW YORK -- Citigroup Inc. is eliminating 4,500 jobs in its latest effort to cut costs. The bank will take a $400 million charge in the fourth quarter as a result. Citigroup's CEO, Vikram Pandit ...

Citigroup would be obligated to fill the first 200 jobs by the end of this year, with 618 more by year-end 2016. The final year, 2017, would require 345 more jobs to add up to the proposed 1,163.