Citigroup in Last Phase of Overhaul After 5,000 Layoffs

Citigroup to end sweeping overhaul this week after 5,000 layoffs Citigroup is in the last phase of a sweeping overhaul to simplify its structure and improve performance, the bank said, after shrinking its workforce by 5,000 employees since September. The largest round of staffing moves, including reassignments and departures, will be communicated to employees from Monday to Thursday, CEO Jane Fraser told employees in a memo seen by Reuters. “These past months have not been easy,” Fraser wrote. “Far from it. The changes we’ve made are the biggest that most of us have experienced at Citi …, putting us on…