US banking giant employs some 2,800 at its pan-European hub in Dublin
Job cuts are expected with the reorganisation, but the bank did not estimate the number of positions being eliminated. Photograph: Justin Sullivan/Getty ImagesCitigroup chief executive Jane Fraser announced a major management reorganisation that will see more job cuts and give her more direct oversight over its businesses as she seeks to simplify the bank’s structure.
“We are making bold decisions to meet our commitments to our shareholders,” Ms Fraser said in a statement. The new division heads will streamline the second and third layers of management, which are expected to be announced in November and January, the sources added, speaking on condition of anonymity.
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