BREAKING: Citigroup, $C, plans to announce major layoffs on Monday in an effort to cut costs, according to Financial Times.
The bank is undergoing a “massive restructuring” that will result in “tens of thousands of positions eliminated.”
Citigroup currently has 240,000 employees and just 1% have been reviewed so far.
Job cuts are expected to happen in a multiple rounds beginning Monday.
Are layoffs beginning to spread beyond tech?
