Citigroup mulling job cuts of at least 10% in several major businesses - CNBC
Citigroup is reportedly considering significant job cuts of at least 10% in various major businesses as part of CEO Jane Fraser's reorganization efforts, according to a report in CNBC.
Additionally, executives at Citigroup are expected to face cuts beyond the 10% threshold as part of Fraser's strategy to eliminate roles that involve redundant responsibilities, including regional managers and co-heads. “The only thing she can do at this point is a really substantial headcount reduction,” analysts at Edward Jones told CNBC.
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