Citigroup Considers Layoffs in Overhaul to Streamline Management and Comply with Regulatory Order

Citigroup is starting discussions about potential layoffs as part of a major reorganization and management overhaul.
Support staff in risk management and compliance are among those most likely to lose their jobs.
Technology staff with overlapping functions also face cuts.
The reorganization aims to reduce bureaucracy and let business heads report directly to the CEO.
The changes come as Citi works to fix "longstanding deficiencies" in controls under a 2020 regulatory order.

reuters.com

Relevant topic timeline:

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