Citi Slashes Executive Bonuses Tied to Bank’s Turnaround

Citigroup Inc. cut payouts to hundreds of top executives in the final round of a three-year special bonus program that tied their compensation to the bank’s progress on risk and regulatory matters.

In the third annual installment, the “Transformation Bonus Program” paid out 68% of the target for 2024 to about 250 senior employees, according to a proxy filing Tuesday. That compares with 94% for 2022 and 80% the following year.