Citigroup slashes banker promotions in cost-cutting drive: report
Just 2,000 Citi employees can look forward to an early Christmas present of a pay raise and a more senior title, down from 8,000 in previous years, the FT reported.
Citigroup to Slash Year-End Promotions Amid Organization Overhaul
Citigroup Inc. C is planning to slash the number of year-end promotions it typically grants as it strives to keep expenses low amid a long-term organizational overhaul to shrink headcount, as reported by the Financial Times.
Citigroup slashes promotions as it seeks to overhaul bank, FT reports
Citigroup is drastically reducing year-end promotions, impacting around 2,000 employees compared to approximately 8,000 in previous years, according to the Financial Times. This move comes as part of CEO Jane Fraser's cost-cutting restructuring plan,
Citigroup Slashes Year-end Promotions Amid Cost-cutting Drive
Citigroup plans to significantly reduce the number of year-end promotions to curb costs during its ongoing restructuring, the Financial Times reported on Tuesday.According to the report, only 2,000 employees are expected to receive pay hikes and title changes in the next month,
Citi cuts promotions, raises as it seeks to overhaul the bank, FT says
Citi (C)group is cutting the number of year-end promotions it typically awards as the company seeks to keep costs down amid a long-term
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