Posted on 11/17/2023 2:38:19 PM PST by george76
Citigroup (C.N) employees expect announcements about management changes and layoffs on Monday in the next phase of the bank’s sweeping reorganization
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Employees are awaiting more details about the scale of layoffs at the bank, which employs 240,000 people worldwide.
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Last month, Citi announced plans to cut management layers from 13 to eight as part of its biggest overhaul in decades. In the two top layers of leadership, Citi reduced 15% of functional roles and eliminated 60 committees,
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The third-largest U.S. lender will also eliminate co-heads of divisions and regional roles, cut 50% of internal financial management reporting and centralize decision making
(Excerpt) Read more at reuters.com ...
So does that mean more, or less, laundering of drug cartel money?
13 Management layers, committees and genuflecting to the likes of bLM and gender denying nut jobs - They will never get my business.
were is the gratuitous “women and minorities hardest hit” language?
“ Last month, Citi announced plans to cut management layers from 13 to eight…”
________
Whew, I had heard they were cutting the management layers to 8, glad it is only eight.
“were is the gratuitous “women and minorities hardest hit” language?”
They will be the only ones left at the company ... can lay them off it would be racist/sexist.
Nothing more useless (except all liberals) than large company “management”.
Stock price looks ok. Probably need a lot less people with the mortgage bust, automation, branch closures and AI.
Just cutting out the DIE department altogether would have made a huge improvement to the corporation.
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