"Some roles will change, new roles may be created, and new roles that do not fit our new structure will be eliminated," Sara Wechter, the bank's chief human resources officer, wrote in the memo.
Fraser's memo to staff did not announce an expected number of job cuts but said the departures would enable staff who generate revenue and dealmakers to focus their time on clients.
"We'll be saying goodbye to some very talented and hard-working colleagues," Fraser wrote at the time.
CONSULTATIONS IN THE UKThe bank said in a separate memo it is also beginning the specific consultation required in the UK.
Some of these roles may change, while others will remain largely the same."
Persons:
Sara Wechter, Jane Fraser, Fraser, Jane, Lananh Nguyen, Tatiana Bautzer, Saeed Azhar, Megan Davies, David Gregorio Our
Organizations:
Citigroup, Reuters, Citi, Bank of America, Thomson
Locations:
Wells Fargo, London, New York