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Citigroup to Axe 35 Jobs in Fraser’s UK Overhaul

Citigroup is undergoing a major reorganization, led by CEO Jane Fraser, that will see 35 jobs cut from its UK investment banking business.

The reduction in staff at Citigroup was communicated to employees in the bank's London headquarters earlier this week. Photo: Getty Images
The reduction in staff at Citigroup was communicated to employees in the bank’s London headquarters earlier this week. Photo: Getty Images

The layoffs, which include three managing directors and nine directors, account for approximately 5% of the unit’s workforce in the UK.

It is important to note that these job cuts are related to the challenging business environment and not directly linked to Fraser’s broader overhaul of Citigroup.

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