Citigroup slashes promotions as it seeks to overhaul bank, FT …
1 day ago · Citigroup is cutting the number of year-end promotions it awards as it seeks to hold costs down amid a long-term restructuring to shrink headcount, the Financial Times reported on Tuesday.
Citigroup slashes promotions as it seeks to overhaul bank, FT …
1 day ago · Managers have been told that as many as 2,000 Citi employees could get promotions, with pay hikes limited to 15%, in the next month, down from about 8,000 in previous rounds, the FT report said ...
Citigroup slashes promotions as it seeks to overhaul bank
1 day ago · As few as 2,000 employees could receive pay and title bumps in the next month, down from about 8,000 in previous rounds
"Morale pretty low" as Citigroup slashes year-end promotions
1 day ago · The decision to curtail promotions comes at a time when job cuts at Citi have slowed. In 2022, the bank announced its intent to eliminate 20,000 roles as part of its largest restructuring in years.
Citigroup slashes promotions as it seeks to overhaul bank
22 hours ago · Citigroup is slashing the number of year-end promotions it usually awards, as the bank seeks to hold costs down amid a long-term restructuring to shrink headcount and right the plodding bank.
Citi cuts promotions, raises as it seeks to overhaul the bank, FT says
1 day ago · Citi group is cutting the number of year-end promotions it typically awards as the company seeks to keep costs down amid a long-term restructuring that will involve shrinking its headcount ...
Citigroup slashes promotions as it seeks to overhaul bank, FT …
1 day ago · 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, which includes a 20,000 workforce reduction over the next two years. Promotion-related pay increases are reportedly capped at 15%.
Citigroup awards special retention bonuses for dozens, Bloomberg News …
1 day ago · Citigroup's wealth unit has greenlit special retention bonuses for dozens of personnel this year as the Wall Street giant looks to prevent more bankers from leaving, Bloomberg News reported on Monday.
Citigroup slashes banker promotions in cost-cutting drive: report
13 hours ago · Citigroup CEO Jane Fraser will slash the number of bankers getting year-end promotions as the Scottish-born executive looks to clamp down on costs, according to a report. Just 2,000 Citi employees ...
Citi slashes promotions, caps raises at 15%, says FT
17 hours ago · The news: Citigroup is slashing year-end promotions as part of its ongoing restructuring, The Financial Times reported citing unnamed sources. The numbers: Only 2,000 employees may receive pay or title bumps this year, down from 8,000 previously, the sources told the paper. The change pertains to “in-seat promotions,” where employees receive pay raises and title upgrades without actual ...
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