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 is working to streamline its operations and boost profitability to better compete with rivals. It aims to cut 20,000 jobs by the end of 2026. At the end of the fourth quarter, Citigroup’s workforce stood at 229,000, down 10,000 from the previous year.

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.