Citigroup begins layoffs as Wall Street braces for rough end to 2023

Citigroup has initiated a fresh round of job cuts targeting senior managers, as part of a comprehensive reorganization outlined two months ago by the nation’s third-largest bank.

The cuts equate to around 10% of senior manager positions, impacting approximately 300 managers, according to Bloomberg.

Citigroup, based in New York City, currently employs around 240,000 individuals.

These reductions reflect the challenges faced by Wall Street and the broader banking industry throughout a challenging year, Yahoo Finance reported.

READ MORE: https://finance.yahoo.com/news/citigroup-begins-layoffs-as-wall-street-braces-for-rough-end-to-2023-154443878.html

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