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NY Post
New York Post
13 Dec 2023


NextImg:Citi reportedly offers partial early bonuses to encourage exits amid massive overhaul

Citigroup is offering to pay some of its employees a portion of their annual bonuses early if they agree to voluntarily depart, Bloomberg News reported Wednesday, citing people familiar with the matter.

The employees who take up the bank’s offer will also be allowed to keep all of their deferred stock awards in addition to the bonus, the report said.

Citigroup did not immediately respond to a Reuters request for comment.

The employees who take up the bank’s offer will also be allowed to keep all of their deferred stock awards in addition to the bonus, Bloomberg reported. REUTERS

The news comes at a time when the bank is undertaking a sweeping reorganization that is expected to be complete by the end of the first quarter of next year.

The third-largest US lender, which normally awards the bonuses in February, is making the offer to its staff on a case-by-case basis, the report added.