A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange, October 16, 2012. CREUTERS/Brendan McDermid/File Photo
Citigroup (C.N) is offering to pay some of its employees a portion of their annual bonuses early if they agree to voluntarily depart, Bloomberg News reported on 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 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 U.S. lender, which normally awards the bonuses in February, is making the offer to its staff on a case-by-case basis, the report added.
Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Devika Syamnath
