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☆ A former Amazon recruiter says one of the biggest mistakes job seekers make is putting Miss America-style statements in résumés
▼ + stars: | 2024-02-13 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA former Amazon recruiter says there’s one mistake that she keeps seeing both junior and senior employees making in their résumés: writing vague statements. This story is available exclusively to Business Insider subscribers. AdvertisementThe most common mistake he found in the résumés he reviewed was a lack of quantifiable achievements, with 86% of résumés having this issue, he said. The best résumé is the one that shows how you are perfectly qualified for the job to which you are applying,” he previously wrote for Business Insider.

Persons: —, Lindsay Mustain —, Mustain, Eugene Hayden, ” Organizations: Service, Amazon, Comcast, Miss America, CNBC, Business, Google, KPMG, Boston Consulting Group

That's because a subsidy that helps people with limited resources afford internet access is set to expire this spring. If the program expires, participating families, including nearly 900,000 in North Carolina, will either lose internet access or have to pay more to stay connected. Most of that money will be awarded to internet providers to build internet infrastructure in areas that need it most. Several states incorporated the ACP subsidies into those draft plans in ways that would lower the cost for internet access to zero for some customers. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

Persons: Joe Biden, ” North Carolina Governor Roy Cooper, “, Shirleen Alexander of Charlotte, ”, Alexander, Biden, Franklin Roosevelt, Brian Vo, ” Vo, Nate Denny, he's “, ” Denny, Denny, Gina Raimondo, ” Cooper, ___ Organizations: ANGELES, Program, ” North, ” North Carolina Governor, Democrat, Administration, New, ”, Connect, Biden, Federal Communications Commission, Sense Media, Boston Consulting, Broadband Equity, National Telecommunications and Information Administration, Associated Press, America Statehouse News Initiative, America Locations: North Carolina, U.S, ”, ” North Carolina, America, Raleigh

☆ Nobody's quitting their job anymore. That's a bad sign for workers.
▼ + stars: | 2024-02-04 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

That could be a sign that workers feel less confident about the state of the labor market. AdvertisementFriday's blowout jobs report confirmed the labor market is still holding firm, but one often-ignored statistic could signal a looming slowdown. "The second straight 2.2% quits rate — just below the pre-Covid level — is more important, because it clearly signals slower wage gains." "All that air is coming out of the labor market, even though hiring remains strong." "The job market is steadily returning to its pre-pandemic self," Morningstar's Preston Caldwell said in a research note.

Persons: —, José Torres, Ian Shepherdson, Philipp Carlsson, Szlezak, Optimists, Morningstar's Preston Caldwell Organizations: Service, of Labor Statistics, Macroeconomics, Bureau of Labor Statistics, Boston Consulting Group, Business, eBay, Los Angeles Times

☆ The Fall of the Timepiece Gentleman, the Luxury Watch Dealer Who Ran Afoul of the Feds
▼ + stars: | 2024-02-04 | by ( David Kushner | ) www.businessinsider.com time to read: +29 min

Farrer is better known as the Timepiece Gentleman, the flashiest online dealer in the $75 billion luxury watch trade. All he needed was the right name for his luxury watch business — something distinctive, something memorable. In his mind, he pictured what the ultimate luxury watch dealer would look like. To launch his career as the Timepiece Gentleman, Farrer boned up on the jargon of horology, from escape wheels and spring barrels to flinques and guilloches. Despite the staggering size of the luxury watch trade, nobody had thought to market its glamour and mystique.

Persons: Reddit, I've, Anthony Farrer, Farrer, Mark Wahlberg, Marky Mark, Patek Philippes, Sharf, Prada, he'd, Cameron, Travis Baker, chronograph, Richard Chance, He'd, timepieces, Farrer boned, they're, Kevin Hart, It's, Buyers, Darby McVay, McVay, Liz Guilliams, Guilliams, You've, Dallas —, Crimepiece, vouching, Santa Monica, —, Darth Vader, y'all, reselling, Anthony, stiffing, Wesley Stokes, Stokes, Bob Schober, Joe Haden, Richard Mille, Schober, He's, Peter, Paul, didn't Organizations: YouTube, FBI, Timepiece Gentlemen, Watch, Buffalo Wild Wings, Business, Boston Consulting Group, Texans, Craigslist, Lamborghini, Malibu, Downtown, Hollywood, Cleveland Browns, TPG, Ducati, Venice Locations: Venice , California, Venice, backwoods Texas, Reddit, cowpoke, Sherman , Texas, Dallas, It's, Salt, Riding, Los Angeles, In Dallas, LA, Santa, Texas, Downtown Los Angeles, South Carolina, Scottsdale , Arizona, Stokes

☆ Why is it so hard to find a job right now despite low unemployment?
▼ + stars: | 2024-02-02 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

Vargas, a special education instructor, has been mired for months in various stages of interviews for three teaching jobs. Employers' hiring rate fell sharply in 2023, Zhao said. They'll often toss out some number around 40, he told BI. AdvertisementHitting the numbers on job applications is also a priority for Kevin Cash, who previously told BI he's applied to more than 1,200 jobs and has mostly been ghosted. She's accepted a part-time job and plans to teach private classes for students learning English as a second language.

Persons: —, Lynne Vargas, Vargas, Daniel Zhao, Cory Stahle, Zhao, Josh Bersin, Debbie Lovich, Lovich, Royal Siu, They'll, Siu, it's, Kevin Cash, They're, Jeff Calnan, Indeed's Stahle, Stahle, She's Organizations: Service, Business, Employers, Federal, BI, Boston Consulting Group, Navy, US Air Force Locations: Middletown , New York, Seattle, Woburn , Massachusetts

☆ Use this tool to better prioritize your happiness, expert says: 'Think about time strategically'
▼ + stars: | 2024-01-23 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

The first step of building a new financial budget is usually taking a detailed account of what you are spending. Recording where resources are being allocated is key to understanding what exactly you need to shift about your habits. The same can be said if you want to change how you prioritize your time as it pertains to personal goals, says Rainer Strack, senior partner emeritus at Boston Consulting Group. "Time is the only asset that we can't multiply," Strack tells CNBC Make It. It's a scarce resource, and therefore, you have to understand what you want to do with this kind of resource, concretely."

Persons: Rainer Strack, Susanne Dyrchs, Allison Bailey Organizations: Boston Consulting Group, CNBC

☆ Why 2023 Was a Perfect Storm for EVs That Gave China an Edge
▼ + stars: | 2024-01-20 | by ( Graham Rapier | Cadie Thompson | ) www.businessinsider.com time to read: +3 min

"You cannot have EVs that cost $70,000, $80,000, you need to get EVs down to $30,000 or less. But EV prices are still about 28% more expensive than average gas-vehicle prices, an analysis by CarGurus found. AdvertisementLang laid out three reasons China is finding success where competitors are struggling:Scale"The Chinese OEMs are already profiting off a large domestic market," he said. "The Chinese EV players are here to stay," he continued. They may eventually try entering the US market, Lang said, but it might not be easy given all the local competition and incentives to buy domestically.

Persons: —, That's, Nikolaus Lang, Kelley, CarGurus, Lang Organizations: Service, Business, Boston Consulting Group, Economic, American, EV Locations: Davos, Switzerland, China, Europe, America

DAVOS, Switzerland (AP) — Business and political elites descended on the Swiss Alpine snows of Davos to suss out “rebuilding trust” in a splintering world. If there’s any takeaway from the World Economic Forum's annual meeting — boldly touting that theme — it’s that we still have a long way to go. The idea is getting people together, and big announcements are often just a byproduct — not the aim. “It’s unrealistic to think that Davos — or any meeting, anywhere in the world — in one meeting can rebuild trust when it’s fragmented on so many dimensions," said Rich Lesser, chairman of Boston Consulting Group. But thousands of conversations between the social, private and public sectors help create "a starting point for rebuilding trust,” he said.

Persons: —, Rich Lesser, ”, bigwigs, Bill Gates, Agnès Callamard, craziness, Long, Volodymyr Zelenskyy, ” Zelenskyy, ” Pham Minh Chinh, vociferously, Benjamin Netanyahu, Antony Blinken, wasn't, Antonio Guterres, Masha Macpherson, David Keyton, Courtney Bonnell, Kelvin Chan Organizations: —, Boston Consulting, Nature Energy, “ Cooperation, Security, Amnesty, European Union, U.S, Israeli, ” Locations: DAVOS, Switzerland, Swiss, Davos, suss, Ukraine, U.S, India, South Africa, UKRAINE, Kyiv, Europe, United States, Britain, Israel, Gaza, Palestinian, Saudi Arabia, London

☆ 2024 is about the business impact of AI, says Boston Consulting Group CEO
▼ + stars: | 2024-01-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email2024 is about the business impact of AI, says Boston Consulting Group CEOChristoph Schweizer, CEO of the Boston Consulting Group, discusses the global economy and attracting a talented workforce.

Persons: Christoph Schweizer Organizations: Boston Consulting, Boston Consulting Group

☆ 7 simple steps to 'strategize your life' and set yourself up for success in 2024
▼ + stars: | 2024-01-15 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +5 min

"A great life has to be defined personally, you can't just take a framework and say, 'This is a great life,"' Strack says. What is my life purpose? To find your purpose Strack suggests asking yourself two questions: What are my strengths and what does the world need? Rainer Strack managing director and senior partner at Boston Consulting Group3. Rainer Strack managing director and senior partner at Boston Consulting Group7.

Persons: Rainer Strack, Susanne Dyrchs, Allison Bailey, Strack Organizations: Boston Consulting, CNBC

☆ Harvard's president resigning means more drama for other universities
▼ + stars: | 2024-01-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the resignation of another Ivy League president and the knock-on effect it'll have on education in the US. The big storyIvy League issuesBrian Snyder/ReutersClaudine Gay's tenure as Harvard president wasn't long, but it won't be forgotten. Alan Garber, Harvard's provost and chief academic officer, will serve as interim president, the school's board announced. Gay is the second Ivy League president to step down in less than a month, following in the footsteps of former Penn president Elizabeth Magill. Harvard president Claudine Gay Kevin Dietsch/Getty ImagesGay and Magill's departures highlight the tension between businesses and prestigious universities and the former's influence over the latter.

Persons: —, Bob Marley, John Wick, Brian Snyder, Claudine Gay's, wasn't, Gay, Alan Garber, Harvard's, Elizabeth Magill, Magill, Sally Kornbluth, Bill Ackman, Claudine Gay Kevin Dietsch, Business Insider's Paul Squire, Lucas Jackson, Tesla, Goldman, Tyler Le, it's, Warren Buffett, Greta Thunberg, Florence Pugh, Mel Gibson, J.R.R, Tolkien, Eli Manning, Max Willcocks, Dan DeFrancesco, Diamond Naga Siu, Hallam Bullock, Jordan Parker Erb, Hayley Hudson, Lisa Ryan Organizations: Service, Ivy League, Business, Harvard, Ivy, Penn, Gay, MIT, GOP, Big Tech, Apple, Microsoft, Nvidia, Meta, Boston Consulting Group, Cushman & Wakefield, LinkedIn, SAP, Verizon Consumer Group, EV, Elon, Jiji Press, Japan Airlines, New York Locations: China, Jisoo, New York, San Diego, London, Edinburgh

☆ I got a tech job and quadrupled my salary to $400,000 after leaving law. You don't need a traditional tech background to succeed in the industry.
▼ + stars: | 2023-12-04 | by ( Ellen Nguyen | ) www.businessinsider.com time to read: +7 min

She started her career as a lawyer and pivoted to real estate and recruiting before data privacy. AdvertisementThis as-told-to essay is based on a conversation with Jonea Gordon, a 35-year-old year data privacy program manager based in Philadelphia. Transitioning from law to data privacy and income growth from $90,000 to over $400,000 in five years marks my journey in this field. But this move was strategic because I discovered the lucrative potential of data privacy in tech, which far exceeded my initial expectations. Advice for othersMy advice for those new to tech, particularly in data privacy, is to start in consulting.

Persons: Jonea Gordon, —, I'd, could've, Ernst, Young —, I've Organizations: Cruise, Service, Meta, Google, Twitter, Boston Consulting Group, Big, Deloitte, PricewaterhouseCoopers, KPMG Locations: Philadelphia

☆ The world is splitting between those who use ChatGPT to get better, smarter, richer — and everyone else
▼ + stars: | 2023-12-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

There is growing evidence that artificial intelligence tools such as ChatGPT can make you more efficient and capable at work. And the effect will be particularly noticeable if no one else in the company is using AI in this way. All said that outsourcing time-consuming, small jobs to AI tools freed up their time. AI at work still needs careful handlingThere are obvious caveats to using AI to do your work for you. Some companies also have specific rules for AI tools due to fears around copyright or data security.

Persons: ChatGPT, —, OpenAI's, techies, Google's, Matt Calkins, Appian, It's, Shakespeare, Shona Ghosh Organizations: Service, Harvard Business School, Boston Consulting, Developers, Microsoft, Workers

She replaces Mafalda Duarte, who left in July 2023 to lead the Green Climate Fund. Luis Tineo, interim CEO, will lead CIF until March, 2024. "Developing countries are at the forefront of the climate crisis, and we will only meet this decisive moment by working together to scale climate finance where it is needed most," Gbadegesin said in a statement. Among the largest multi-lateral climate funds in the world, CIF offers projects highly concessional capital that can leverage development bank and private sector money to fund low carbon, climate-resilient development. As well as the World Bank Group, including the International Finance Corp, CIF invests through the African Development Bank, the Asian Development Bank, the European Development Bank, and the Inter-American Development Bank.

Persons: Mafalda Duarte WASHINGTON, Tariye Gbadegesin, Gbadegesin, Mafalda Duarte, Luis Tineo, ”, Bob Natifu, Edward Webber, Simon Jessop, Valerie Volcovici, David Gregorio Our Organizations: Global, Investment Funds, World Bank, ARM Harith Infrastructure Investments, Climate Fund, Initiative, International Monetary Fund, Boston Consulting, Africa Finance Corp, Trust Fund Committee, International Finance Corp, African Development Bank, Asian Development Bank, European Development Bank, Inter, American Development Bank, Thomson Locations: South Africa, Indonesia

Barclays Bank logo is seen in this illustration taken March 12, 2023. As part of these 1,500 to 2,000 jobs could be cut if implemented in full, the person said. Barclays' 1 billion pound cost saving target would represent about 7% of the bank's underlying annual operating expenses of 15 billion pounds in 2022. Meanwhile, annual staff costs at BX have risen to 2 billion pounds, from 1.8 billion pounds. Barclays is "evaluating material structural cost actions", Venkat said when it reported disappointing third quarter results in October.

Persons: Dado Ruvic, C.S, Venkatakrishnan, Venkat, Sinead Cruise, Lawrence White, Alexander Smith Organizations: Barclays Bank, REUTERS, Barclays, Services, Chief, Barclays Execution Services, BX, Deutsche Bank, BNP, UBS, Reuters, Boston Consulting Group, Thomson Locations: British

☆ A jazz critic missed out on a $6 million fortune by selling his Apple stock for about 1/700 of its value today
▼ + stars: | 2023-11-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Ted Gioia made a $6 million error when he cashed in his Apple stock about 25 years ago. The jazz critic bought 300 shares in the 1980s that would have been worth $6.4 million today. AdvertisementA management consultant turned jazz critic made a $6 million mistake when he sold Apple stock about 25 years ago. Gioia purchased 300 Apple shares, paying only a little above the company's IPO price. "Without Jobs, Apple failed every time it tried something new, for example the Newton handheld device, which was a huge disaster—and almost a joke," Gioia continued.

Persons: Ted Gioia, —, Gioia, Apple, Steve Jobs, Jobs, Tim Cook, Cook Organizations: Apple, Service, Stanford, Boston Consulting Group, Newton, McKinsey

☆ Landing your dream job by getting an MBA isn't as easy anymore
▼ + stars: | 2023-11-19 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

One second-year student told Business Insider he had to pivot to a job in consulting. His job win comes as the field of consulting isn't as red-hot as it was in 2021 and 2022, experts told Business Insider. But now a range of companies are being more deliberate about how quickly they're hiring MBAs, administrators told BI. However, it's actually close to a normal market for MBA grads, industry and career experts told BI. Still, that's leaving some MBA students uneasy.

Persons: —, he'd, Jeff McNish, MBAs, it's, that's, It's, he's, McNish, Stephanie O'Connor, aren't, we've, O'Connor, I've, I'm Organizations: Service, Ivy League, Business, University of Virginia Darden School, Darden, Center, BI, grads, Bain & Company, — McKinsey, Bain, Boston Consulting Group, University of Chicago Booth School of Business

☆ AI is set to transform the banking sector, Boston Consulting Group says
▼ + stars: | 2023-11-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI is set to transform the banking sector, Boston Consulting Group saysBanks are data-heavy industries and the transactional data of customers that they collect "provide many more insights than every other industry data set actually can," said Stiene Riemer, partner at Boston Consulting Group.

Persons: Banks, Stiene Riemer Organizations: Boston Consulting, Boston Consulting Group

☆ Salesforce appoints longtime executive Denise Dresser as Slack CEO
▼ + stars: | 2023-11-13 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Longtime Salesforce executive Denise Dresser has been appointed CEO of Slack, Salesforce co-founder and chief executive Marc Benioff announced Monday. Dresser becomes the third CEO of the Salesforce unit since it was acquired by Salesforce in 2020. She has been a Salesforce executive for more than 12 years, according to her company biography and LinkedIn profile, most recently as president of accelerated industries. Dresser will take the top job at Slack after its most recent CEO, Lidiane Jones, accepted the chief executive role at dating app Bumble earlier this month. Most notably, Slack founder Stewart Butterfield and Salesforce co-CEO Bret Taylor departed in the span of two weeks in December 2022.

Persons: Technology Denise Holland Dresser, Casey Hurbis, Shilpa Sharma, Denise Dresser, Slack, Salesforce, Marc Benioff, Dresser, Lidiane Jones, Jones, Bumble, Whitney Wolfe, Benioff, Denise, Arthur Andersen, Stewart Butterfield, Bret Taylor, Butterfield, — CNBC's Ari Levy, Jordan Novet Organizations: Communications, Media, Technology, Rocket, Boston Consulting, Salesforce, CNBC, University of Massachusetts Amherst, Oracle, Big Locations: Beverly Hills , California, Salesforce

☆ Treasury-yield surge boosts tokenization of real-world assets on blockchains, leading 'huge paradigm shift' in finance
▼ + stars: | 2023-11-12 | by ( Aruni Soni | ) www.businessinsider.com time to read: +4 min

The rise of Treasury yields since 2022 has delivered a major boost to the tokenization of real-world assets. The total value of on-chain, real-world assets sits at $118.6 billion, according to Fundstrat. AdvertisementAdvertisementThe breathless rise of Treasury yields since 2022 has delivered a major boost to the tokenization of real-world assets. AdvertisementAdvertisementRight now, the total value of on-chain, real-world assets sits at $118.6 billion, according to Fundstrat. But the tokenization of real-world assets onto the blockchain is a newer trend that's picking up steam.

Persons: It's, —, Franklin Templeton, Tom Couture, SWIFT, Couture, Lee Bratcher, Bratcher, Fundstrat Organizations: Service, Boston Consulting Group, JPMorgan, BlackRock, Barclays, Texas Blockchain Locations: tokenize, Texas

☆ Workers at these 15 companies are happiest with their pay, says new report
▼ + stars: | 2023-11-12 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

Even so, they remain some of the top companies where employees feel happiest with their pay. 1 spot where workers felt happiest with their pay, according to the analysis. Overall, Herring points out, many tech companies, and especially cybersecurity firms, scored highly on the compensation analysis. 5, respectively), but they remain in the top 15 companies where workers are satisfied with their pay. While workers may feel satisfied with their compensation there, the two tech giants did not fall into the top 100 companies with the happiest workers overall.

Persons: they're, Chad Herring, Herring, Uber —, Warren Buffett Organizations: Big Tech, Boston, Palo Alto, SAP, Google, Boston Consulting, Workers, Employees, Adobe Locations: Palo, California

☆ The first US commercial plant has started to pull carbon from the air. It's able to suck out 1,000 tons annually and plans to expand.
▼ + stars: | 2023-11-09 | by ( Maiya Focht | ) www.businessinsider.com time to read: +4 min

JENN CAIN/Getty ImagesHeirloom uses direct air capture technology, which essentially means that its product is able to suck free carbon dioxide out of the air, according to its website. The captured carbon dioxide gets packed into concrete or injected into the ground, where Heirloom said it's held permanently. Why they made this tech in the first placeExcess carbon dioxide in the atmosphere traps heat and warms the planet. Carbon capture is not a cure for climate changeUsing carbon capture alone won't be a cure-all for our climate woes. AdvertisementAdvertisement"Fossil-fuel companies love carbon capture because it really does let them off the hook," he said.

Persons: it's, Shashank Samala, JENN, there'll, Energy Jennifer Granholm, Peter Kalmus, Kalmus Organizations: New York Times, Service, Carbon Technologies, Times, Getty, World Wildlife Fund, Boston Consulting Group, Energy, WWF Locations: California, Tracy , CA, Brisbane , California

☆ A rapid clean-energy transition could save 181 million years of healthy human life annually by 2050, report finds
▼ + stars: | 2023-11-08 | by ( Morgan Mcfall-Johnsen | Maiya Focht | ) www.businessinsider.com time to read: +7 min

A rapid transition to green energy sources would prevent a lot of disability and early death, researchers say. In the year 2050 alone, the transition's impact amounts to 181 million future years of healthy human life, a new report found. Add to that list 181 million years of healthy human life — annually. Mohammad Ponir Hossain/ReutersDisability-adjusted life years, or DALYs, capture years of life affected by disability and years lost to premature death. If the world rapidly transitions to renewables, they found, the energy system will still hurt human health enough in 2050 to lead to early death and disability that affects 30 million years of human life.

Persons: Martin Meissner, it's, Stephanie Roe, WWF's, Mohammad Ponir Hossain, Nick Oxford, Dylan Martinez, Jonathan Buonocore, Buonocore, Lyu, Roe Organizations: Service, Wildlife Fund, Boston Consulting, Reuters, American Lung Association . Mines, Harvard, Boston University School of Public Health, WWF, China News Service, Getty, International Energy Agency, Stanford Locations: Haltern, Germany, Dhaka, Bangladesh, Texas, Fujian Province, China

☆ The top 3 companies with the happiest workers have this one thing in common
▼ + stars: | 2023-11-07 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

Another big boost to your workplace happiness may be how well you get along with your colleagues. Having great co-workers was a common theme among the top three companies with the happiest employees, according to the latest ranking from Comparably, an employee reviews site. 3 Uber, one employee writes that "what make me happiest at work is the people." Notably missing from the company list are many tech giants including Google, Meta and Microsoft, which continued their descent from previous years and fell off the top 100 happiest companies list in 2023. Smaller organizations that top Comparably's happiest companies, meanwhile, are "able to get and act on feedback very quickly and be more adaptable to what their employees are saying," Herring adds.

Persons: Chad Herring, Herring, that's, Warren Buffett Organizations: Employees, Boston Consulting, Google, Meta, Microsoft Locations: California

☆ Citigroup considers deep job cuts for CEO Jane Fraser’s overhaul, called 'Project Bora Bora'
▼ + stars: | 2023-11-06 | by ( Hugh Son | ) www.cnbc.com time to read: +5 min

Fraser is under mounting pressure to fix Citigroup, a global bank so difficult to manage that its challenges consumed three predecessors dating back to 2007. Stock Chart Icon Stock chart icon Citigroup's stock has been mired in a slump under CEO Jane Fraser. While competitors have been cutting jobs this year, Citigroup's staff levels remained at 240,000. That leaves Citigroup with the biggest workforce of any American bank except the larger and far more profitable JPMorgan. Executives will see cuts beyond 10% because of Fraser's push to eliminate regional managers, co-heads and others with overlapping responsibilities, they said.

Persons: Citigroup Jane Fraser, Alex Wong, Jane Fraser, Fraser, JPMorgan Chase, James Shanahan, Edward Jones, Mike Corbat, they'll, Mike Mayo, Titi Cole, Citigroup's, Cole, Wells, I'm, Dana Neibert Organizations: Citigroup, Financial Services, Rayburn House, JPMorgan, Citi, Bank of America, Boston Consulting, Bank, Getty, Operations Locations: Washington , DC, U.S, Wells Fargo, Tahiti, Polynesia

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