"Citigroup CEO Streamlines Bank Operations and Implements Job Cuts"

Citigroup CEO Jane Fraser has announced a major management reorganization aimed at simplifying the bank's structure and improving profitability. The heads of the bank's five businesses will now report directly to Fraser, and job cuts are expected as a result. The reorganization will eliminate unnecessary complexity and consolidate international leadership roles. The number of positions being eliminated and the financial impact have not been estimated yet. This move is part of Fraser's strategy to meet the bank's restructuring targets and improve shareholder value.