Citigroup is cutting more jobs this week to meet CEO Jane Fraser's expense goals, Bloomberg News reported on Thursday, citing people familiar with the matter. Managing directors in the wealth and technology units are leaving the firm and Citi is also axing people from a team that compiles data and analysis on the bank's clients,

(Reuters) -Citigroup is cutting more jobs this week after going through an overhaul last year, a spokesperson for the lender said on Thursday, as a part of the sweeping reorganization under Chief Executive Officer Jane Fraser to cut costs.

Citigroup continues job cuts in wealth business and technology unit, following better-than-expected Q4 results and $20B stock buyback program.

Citigroup is cutting more jobs this week after going through an overhaul last year, a spokesperson for the lender said on Thursday, as a part of the sweeping reorganization under Chief Executive Officer Jane Fraser to cut costs.

Citigroup Inc. is planning to reserve $600 million for severance payments in 2025 as it continues to trim its workforce and cut expenses, according to Chief Financial Officer Mark Mason.Citigroup Severance : DetailsThe $600 million figure is down about 14 per cent from last year,