Citigroup Inc. C has commenced the elimination of various job positions as part of its major organizational overhaul process. Per a Yahoo Finances article quoting Bloomberg, the job cuts involve approximately 10% of Citigroups senior manager roles aggregating to around 300 managers.
The companys press release said, Today we shared with our colleagues the next layer of changes across many of our businesses and functions as we continue to align Citis organizational structure with our new, simplified operating model. As weve acknowledged, the actions were taking to reorganize the firm involve some difficult, consequential decisions, but we believe they are the right steps to align our structure with our strategy and ensure we consistently d…
Read the full article at: https://au.finance.yahoo.com/news/citigroup-c-initiates-layoffs-amid-143600275.html