Breaking News: Citigroup Employees Prepare for Layoffs and Management Changes, Sources Say

In a move that will shake up the banking world, Citigroup (C.N) employees are bracing for a major reorganization that is expected to include significant layoffs and management changes. According to confidential sources, thousands of personnel may be impacted by the restructuring, with support staff in compliance, risk management, and overlapping technology roles at particular risk.

Executives at Citi are preparing to announce these changes on Monday, while some personnel may have the opportunity to apply for other positions within the bank. This anticipated overhaul comes on the heels of Citi’s recent announcement to streamline its management layers and reduce functional roles as part of a massive transformation.

Saeed Azhar and Tatiana Bautzer, members of the respected Reuters financial journalism team, are closely following these developments. Azhar brings his expertise from covering Wall Street’s biggest banks, while Bautzer’s insights come from years of experience reporting on global corporations and business disputes.

For more information on this story, you can contact Saeed Azhar at +1-3479086341 or Tatiana Bautzer at +646-2397968.

Source: Reuters

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