Citigroup to announce layoffs and management changes
Citigroup is expected to announce layoffs and senior management changes as part of its major reorganization. The job cuts could affect thousands of staff, with preparations for the announcement already underway. Last month, Citi announced plans to reduce management layers and functional roles. Support staff in compliance, risk management, and technology are at risk. Citigroup declined to comment. This reorganization is the biggest in decades.