Citigroup begins layoffs as Wall Street braces for rough end to 2023

Citigroup (C) began a new round of job cuts Monday among senior managers as part of a sweeping reorganization of the country’s third-largest bank announced two months ago.

The cuts amount to roughly 10% of senior manager roles, or approximately 300 managers, Bloomberg reported. The New York City-based bank currently employs roughly 240,000 people.

“Today we shared with our colleagues the next layer of changes across many of our businesses and functions as we continue to align Citi’s…