New York-based Citigroup has begun notifying its employees who were affected by its plan to slash 9,100 positions over the next 12 months, or about 2.6 percent of its 352,000-person workforce, according to Bloomberg.
During the past year, the company has disclosed plans to cut 22,000 jobs, resulting in expenses of about $2.1 billion.
Goldman told 3,200 employees, or 10 percent of its workforce, that they were being let go, according to Reuters.
Earlier in the year, New York-based Goldman said it would let 1,500 employees go due to poor performance.
Representatives from Citigroup and Goldman neither confirmed nor denied the report.