Citigroup CEO Jane Fraser may preside over some of Wall Street’s deepest job cuts in years as she faces mounting pressure to fix the third-largest U.S.…
Managers and consultants working on Citigroup CEO Jane Fraser's reorganization have discussed job cuts of at least 10% in several major businesses, according to sources.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyFraser is under mounting pressure to fix Citigroup, a global bank so difficult to manage that its challenges consumed three predecessors dating back to 2007. Already a laggard inthat matters to investors, the bank has fallen further behind rivals since Fraser took over in early 2021. It trades at a price-to-tangible book value ratio of 0.49, less than half the average of U.S.
The ultimate number of layoffs will be determined in coming weeks as the massive project moves from management layers to rank-and-file workers. But some things are already clear, according to the people, who declined to be identified speaking about the confidential project.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Slack CEO Lidiane Jones Will Replace Whitney Wolfe Herd as Bumble CEOThe dating-app founder who marketed her product toward women will be replaced by Lidiane Jones, the Slack chief executive
Read more »
CBS CEO Says Picking Taylor Tomlinson to Succeed James Corden About ‘Making Sure We Have Diversity’Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Meta CEO Mark Zuckerberg tore his ACL while training for a competitive MMA fightJonathan Vanian is a technology reporter for CNBC.com
Read more »
Utah CEO of SafeMoon crypto company arrested on fraud chargesLeaders at Utah company SafeMoon assured social media followers they would never defraud buyers of their cryptocurrency. Now, three executives are accused of running an “international fraud scheme.”
Read more »
Meta CEO Mark Zuckerberg tore his ACL while training for a competitive MMA fightMeta CEO Mark Zuckerberg said that he tore his ACL while sparring for MMA and needed surgery to replace it.
Read more »