Recently the name Jane Fraser name has come on the internet and it has been trending on social media platforms. Jane Fraser is a British-American banking executive who is the chief executive officer of Citigroup. Reportedly, Amid CEO Jane’s corporate overhaul plan, Citigroup workers expect a declaration about management changes and layoffs on Monday next week. Since the news came on the internet it has gone viral on many social media platforms and uncounted reactions started hitting the headlines. Here we have more information about the news and we will share it with you in this article.
As per the report, Citigroup workers have been anticipating these developments in the wake of the next phase of the bank’s sweeping reorganization, as per the four people familiar with the situation. But, more information about the layoff is yet to come as Citigroup operates 2.40 lakh workers across the world. Reportedly, Citigroup fell to commend on its going on layoffs and bank overhaul plans. Since the news came it circulated on social media platforms and now lots of people are super keen to know about the whole information about the news. Scroll down to the next page for more information about the news.
Citigroup job cuts
This year, Citigroup began to work on CEO Jane Fraser’s corporate overhaul plan. Citigroup declared plans to cut management layers from 13 to eight as part of its most prominent overhaul in decades. In the two top coatings of leadership, Citi declined 15 percent of available roles and eliminated 60 committees, it stated in its third-quarter earnings production. Their biggest US lender will also eliminate co-heads of divisions and regional roles, cut 50% of internal financial management reporting, and centralize decision-making, it stated in October. You are on the right page for more information about the news, so please read the complete article.
Citigroup news today
The bank did not put a number on the overall layoffs from a revamp that will refocus the company on five key businesses. Even before the restructuring plan started, Citigroup had pulled up roughly $650 million in severance charges as part of cutting 7,000 posts in the first nine months of this year. Firmwide headcount has remained flat for the past four quarters at 240,000 workers. Here we have shared all the information that we had if we get any information then we will update you soon. Stay connected with us for more updates.