Citigroup Inc. is offering to pay some staffers a portion of their bonuses early if they agree to depart as executives continue with their restructuring of the Wall Street giant.
The bank is making the offer to a limited number of staff, according to people familiar with the matter.
In addition to the bonus awards, employees who accept the offer would also be allowed to keep all of their deferred stock awards, the people said, asking not to be identified discussing personnel information.
Staffers cannot volunteer for the offers because they are being made to those impacted by Citigroup's ongoing reorganization, which is focused on restructuring its ranks to fit Chief Executive Officer Jane Fraser's strategy for the bank.
A spokesperson for Citigroup declined to comment.
Fraser announced in September that she would undertake the biggest restructuring of Citigroup in decades as she seeks to make the company more efficient and eliminate layers of management within the bank's 240,000-person workforce.
The bank has said it's expecting to record a charge of a couple hundred million dollars associated with the moves in the fourth quarter.
