Citigroup CEO Jane Fraser announced a major management reorganizationon Wednesday that will result in more job cuts and give her more direct oversight over its businesses as she seeks to simplify the bank's structure.
on Wednesday that will result in 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," Fraser, 56, said in a statement. The latest changes have already eliminated 35 committees, Fraser said, citing an example of efforts to reduce bureaucracy.
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