From Fortune:

Citigroup Inc. CEO Jane Fraser was urged by Warren Buffett to continue the bank’s reorganization efforts during a recent lunch meeting, Reuters reported. Fraser told managing directors, Buffett’s Berkshire Hathaway Inc. confirmed the lunch but declined to provide details. Citigroup’s overhaul includes eliminating 20,000 jobs, with more info expected next week.

The 20,000 job cuts at Citigroup will impact employees as part of a broad restructuring that was initiated in September. CEO Jane Fraser shared that more roles will be eliminated as part of the reorganization beginning the week of Jan. 22, according to a memo seen by Bloomberg. Citigroup declined to comment on the news.

Citigroup Inc.’s CEO, Jane Fraser, informed managing directors about billionaire investor Warren Buffett’s encouragement to continue the bank’s reorganization efforts. The bank has planned to eliminate 20,000 jobs, with more updates expected next week. Additionally, Berkshire Hathaway Inc. confirmed the lunch but didn’t provide specific details. Citigroup declined to make any comments.



Read more: Warren Buffett tells Citi CEO to continue bank overhaul: Report