Citi Bank is reportedly going to cut 24,000 jobs worldwide
They've hired Boston Consulting Group to help them carry out their plan. The plan is to cut atleast 10% in major units. The project is termed Project Bora Bora. They will be eliminating regional managers, co-heads and other employees with overlapping responsibilities. Chief of staffs and chief administrative officers will be cut this month. Operations staff who aided divisions that have been divested or reorganized are also at higher risk of layoffs.
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Citi firing 2400
Citi group is firing 1% or 2400 people.
Citigroup Inc is laying off less than 1% of its workforce, excluding its remediation team working on a consent order, people familiar with t...
https://www.reuters.com/business/finance/citigroup-lay-off-less-than-1-staff-source-2023-03-02/?utm_campaign=fullarticle&utm_medium=referral&utm_source=inshorts