Citigroup is eliminating more than 300 senior manager roles and the company started announcing the cuts on Monday, a person familiar with the matter told Bloomberg’s Jennifer Surane. The cuts amount to roughly 10% of the workers two levels below CEO Jane Fraser’s executive management team level, according to the source, the report noted.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on C:
- Citigroup (NYSE:C) Set to Cut over 300 Senior Manager Roles
- Citi says next phase of organizational changes ‘difficult,’ but ‘right steps’
- Opening Day: Signing Day Sports slides in public debut
- Citi to announce first major round of job cuts Monday, FT reports
- Citi stock could break out, leave doghouse, Barron’s says