Citigroup Cuts Over 300 Senior Manager Roles in Latest Restructuring
- Moves are part of CEO Jane Fraser’s push to simplify the bank
- Jobs affected are two levels below executive management team
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Citigroup Inc. is eliminating more than 300 senior manager roles as part of Chief Executive Officer Jane Fraser’s efforts to simplify the Wall Street giant.
The company started announcing the cuts — which affect staffers two levels below Fraser’s executive management team — on Monday, according to a person familiar with the matter. They amount to roughly 10% of the workers at that level, according to the person, who asked not to be identified discussing personnel information.