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.