Citi fires more than 300 senior executives
Citigroup, one of the largest U.S. banks, announced it will move into the next phase of organizational changes as the bank’s organizational structure aligns with the new operating model.
Citigroup’s statement stated that actions aimed at restructuring the institution involve some difficult decisions, but are believed to be the correct steps to ensure that the bank’s structure is aligned with its strategy and ensure that it consistently delivers excellence to its employees. customers.
In the statement, it was noted that while the bank’s organizational structure remains aligned with the new simplified operating model, the next phase of organizational changes has been shared with the bank’s employees.
10 PERCENT OF EMPLOYEES WERE FIRED
On the other hand, in Bloomberg news on the subject, it was reported that Citigroup’s chief executive officer (CEO), Jane Fraser, fired more than 300 senior managers as part of the restructuring.
According to the news, it was noted that this number constitutes approximately 10 percent of the bank’s employees.
These organizational changes are said to mark the largest restructuring of the New York-based bank in the last 20 years. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
