Jane Fraser, CEO of Citigroup Inc., during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" at the Economic Club of Washington in Washington, D.C., March 22, 2023.
Citigroup will soon begin layoffs in CEO Jane Fraser's corporate overhaul, CNBC has learned.
Those impacted will include chiefs of staff, managing directors and some lower-level employees, said the people.
She announced five new divisions whose heads report directly to her, resulting in the departure of a handful of senior executives.
Fraser is under pressure to improve Citigroup, which has been mired in a stock slump as headcount and expenses have ballooned in recent years.
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