CITIGROUP

Citigroup axes 1,000 roles this week under its 20,000-job restructuring, while BlackRock trims 250 staff, as tech and finance layoffs collide in a brutal start to 2026.

The companies say they 'expect strong client demand and maintain the flexibility to significantly expand the size of the program.'

The fines have hindered the bank's ability to comply with licensing regulations in China. And, to expand its operations into China, the bank needs a clearance letter from the U.S. Federal Reserve.

Citigroup has been hit with a torrent of suits and scandals in recent years -- all centered on the abusive way the bank has treated its customers.