Top US Bank Set To Begin Massive Layoffs
"The Daily Caller reported that Citigroup will begin serving layoff notices as soon as Wednesday. The move is reportedly part of a “corporate overhaul as the company seeks to trim its operating expenses.”
Citigroup administrators announced a second round of layoffs, which will impact higher-level employees such as managing directors and several chiefs of staff, will be rolled out next week, according to CNBC.
A third round of layoffs is expected in February 2024.
A Citigroup statement published by the Daily Caller noted: “We’ve acknowledged the actions we’re taking to reorganize the firm involve some difficult, consequential decisions, but they’re the right steps to align our structure to our strategy and deliver the plan we shared at our 2022 Investor Day.”
Citigroup administrators announced a second round of layoffs, which will impact higher-level employees such as managing directors and several chiefs of staff, will be rolled out next week, according to CNBC.
A third round of layoffs is expected in February 2024.
A Citigroup statement published by the Daily Caller noted: “We’ve acknowledged the actions we’re taking to reorganize the firm involve some difficult, consequential decisions, but they’re the right steps to align our structure to our strategy and deliver the plan we shared at our 2022 Investor Day.”
70-79, M
