Citigroup Makes New Round of Layoffs in Jean Fraser Restructuring Plan

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Updated November 20, 2023 11:52 a.m. ET

Citigroup he started making a wide round of layoffs and organizational changes, as part of the CEO Jane Fraserefforts to streamline the sprawling global bank.

The bank did not say how many employees were to be cut on Monday and has not set a target for total layoffs. Instead, Fraser in September ordered her subordinates to redo their teams for a new alignment she designed and then cut roles that were no longer needed.

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