: Citigroup confirms ‘next layer of changes’ amid ‘difficult’ decisions
Citigroup Inc. C on Monday confirmed earlier plans to inform employees of a “next layer of changes” following a reorganization initially announced on Sept. 13. “As we’ve acknowledged, the actions we’re taking to reorganize the firm involve some difficult, consequential decisions, but we believe they are the right steps to align our structure with our strategy and ensure we consistently deliver excellence to our clients,” Citi said in a statement. The bank did not provide any details on the number of employees affected. The bank has not commented on reports saying as many as 10% of workers could be eliminated from some businesses. Citi’s stock was up fractionally in premarket trading on Monday.
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