All articles tagged with #corporate reorganization
UPS announced a total of 48,000 job cuts in 2025 as part of a major corporate reorganization, with 14,000 additional layoffs disclosed recently, amidst strong quarterly earnings and strategic property sales aimed at long-term value creation.
Citigroup has informed most of its employees that they can work remotely for the final two weeks of December, allowing them to log in from anywhere in their country of employment. This comes as employees are on edge due to CEO Jane Fraser's corporate reorganization, which has already led to executive departures and the closure of the firm's municipal bond business. Citigroup's review of the bank is expected to be completed by the end of March, and severance expenses tied to the project will be disclosed in January and April.
Citigroup CEO Jane Fraser has announced a corporate reorganization aimed at cutting down management layers and accelerating decision-making. The move comes as the bank is facing a stock slump. The reorganization will include job cuts, although the exact number has not been determined yet.
Spotify plans to cut around 200 jobs in its podcast division as part of a corporate reorganization, merging Parcast and Gimlet Studios. The move comes after the company's big bet on podcasts and exclusive content in 2019, which saw it acquire popular podcast networks. Spotify promises generous severance packages for affected employees and says it will focus on delivering more value for creators and users. The move could lead to significant changes in Spotify's original content strategy in the coming months.