(New York Reuters) CitigroupExecutive Jane Fraser held a conference on Thursday (January 18) to discuss the large -scale reorganization of the bank, and the group reduced more leadership this week.
Several people familiar with the matter revealed that the manager of the market, risk and investment banking department was told that they would be tied to cooperate with the bank's reorganization plan.
Two of them said that some managers were told that their positions would no longer exist on February 1, and more details about layoffs and resignation compensation will be announced next week.
Citi Group refuses to comment.Last week, Citi Group announced that it plans to lay off 20,000 people in the next two years.
During the conference call, Fraser discussed the different issues of reorganization and a wider plan for layoffs in the next two years.
Sources quoted Fraser's words that in the current restructuring plan, 5,000 employees will be cut off, and another 5,000 employees will be eliminated for their business off -selling plan.Supporting functions such as technology and operation will also reduce 10,000 employees.
