Citigroup is cutting more jobs this week after going through an overhaul last year, a spokesperson for the lender said on Thursday, as a part of the sweeping reorganization under Chief Executive Officer Jane Fraser to cut costs.

Citigroup Inc. eliminated more jobs this week, just as executives were announcing new share buybacks and doubling down on Chief Executive Officer Jane Fraser’s commitment to expense reductions.

Citigroup beat estimates for fourth-quarter profit, fueled by strength in trading and dealmaking. On an adjusted basis, Citi reported a profit of $1.34 per share in the fourth quarter, compared with analysts' average estimate of $1.22, according to data compiled by LSEG.

Citigroup is cutting more jobs this week to meet CEO Jane Fraser's expense goals, Bloomberg News reported on Thursday, citing people familiar with the matter. Managing directors in the wealth and technology units are leaving the firm and Citi is also axing people from a team that compiles data and analysis on the bank's clients,