Citi is considering trimming its headcount in several major units by at least 10% as the firm embarks on a corporate overhaul it announced in September, according to CNBC, which cited sources familiar with the matter.
The New York City-based bank’s workforce reduction plan, dubbed internally as “Project Bora Bora,” will eliminate regional managers, co-heads and other employees with overlapping responsibilities at the firm, CNBC reported Monday.
