Citigroup announced it will lay off hundreds of employees in New York, with initial reports indicating 363 workers to be affected, according to a warn notice. Subsequent updates revealed the number has risen to 430 employees across various divisions. This move is part of a broader round of job reductions within its U.S. investment bank, impacting sectors including technology, media, telecom, equity, and debt capital markets. Additionally, Citigroup is facing legal challenges, as it has requested a judge to dismiss a lawsuit filed by the State of New York over online consumer protections, which it deems a 'misguided attempt' by Attorney General Letitia James to rewrite federal law. In a separate development, Citigroup downgraded U.S. Tech Stocks and stated that the stock market rally is set to broaden.