Citigroup will lay off 430 employees across different divisions ... to eight from 13 as part of an effort to cut bureaucracy. Citi has also set a goal to trim its global workforce by 20,000 ...

"The fourth quarter was very disappointing," Citi CEO Jane Fraser said in ... Citigroup Inc. said Jan. 12 it will lay off 20,000 employees in the next two years in an effort to save $2.5 billion.