Citigroup chief Jane Fraser has unveiled a plan to eliminate five layers of management in what is poised to become the bank’s largest restructuring in two decades, according to a presentation unvei…
Citigroup CEO expected to make job cuts as sweeping management changes comeCitigroup chief Jane Fraser has unveiled a plan to eliminate five layers of management in what is poised to become the bank’s largest restructuring in two decades, according to a, Citigroup has scrapped its two core operating units — which had focused on institutional and consumer clients — and reorganized into five key business units including trading, banking, services, wealth management, and US consumer offerings.
“We announced consequential changes that align our organizational structure with our strategy and changes how we run the bank,” CEO Fraser said of the move.
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