In anticipation of the next phase of Citigroup’s sweeping reorganization, employees are on edge as they expect announcements regarding management changes and potential layoffs next week. The financial giant, led by CEO Jane Fraser, initiated a corporate overhaul plan in October 2023, aiming to streamline operations and cut down layers of management.
As the restructuring unfolds, employees are awaiting clarity on the scale of layoffs that could significantly impact the workforce of the third-largest U.S. lender.
Citigroup’s Ongoing Corporate Overhaul
According to recent reports, Citigroup employees worldwide are bracing for impactful developments as CEO Jane Fraser’s corporate overhaul plan progresses. Speculation looms over potential layoffs, and management changes as the bank seeks to simplify its structure.
This follows the announcement in October to reduce management layers from 13 to eight, a significant move in Citigroup’s most extensive restructuring effort in decades. No
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