REUTERS/Andrew Kelly Acquire Licensing RightsNEW YORK, Nov 20 (Reuters) - Citigroup (C.N) employees expect the bank to announce layoffs and senior management changes on Monday as part of its biggest reorganization in decades, according to five sources with knowledge of the matter.
The job cuts could affect thousands of staff, according to a source familiar with the situation who was not authorized to speak publicly.
Executives are also likely to announce senior management changes by email, the source said.
Last month, Citi announced plans to cut management layers from 13 to eight as part of its biggest overhaul in decades.
Support staff in compliance and risk management, and technology staff working on overlapping functions are at risk of being laid off, Reuters reported in September.
Persons:
Andrew Kelly, Saeed Azhar, Isla Binnie, Tatiana Bautzer, Svea Herbst, Bayliss, Echo Wang, Lananh Nguyen, Lisa Shumaker
Organizations:
Citibank, New York Stock Exchange, REUTERS, Citigroup, Citi, Reuters, Svea, Thomson
Locations:
Manhattan , New York City, U.S, New York