Citigroup Reorganization Could Include Layoffs of 10%

Citigroup is reportedly weighing wide-ranging job cuts as part of its CEO’s reorganization plans. Managers and consultants at work on “Project Bora Bora” — the in-house code for CEO Jane Fraser’s restructuring — have talked about cuts of at least 10% across a number of Citi’s major businesses, CNBC reported Monday (Nov. 6), citing sources with knowledge of the matter....