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Citi Suspends Job Cuts With Banks Seeking to Reassure Workers

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Photographer: Mark Kauzlarich/Bloomberg

Citigroup Inc. will suspend any planned job cuts as the lender ramps up support for its workforce amid the spread of the deadly coronavirus.

The move is temporary, according to a person familiar with the matter, who asked not to be named discussing personnel information. Citigroup announced earlier this week it would begin handing out $1,000 bonuses to certain employees and has told workers that sick days taken during the pandemic won’t count toward paid time off.