The stock price of Citigroup Inc. (C) rose 0.3% before trading on Monday, after CNBC TV reported that as part of CEO Jane Fraser's previously announced restructuring plan, the bank will lay off at least 10% of its workforce in some departments.
As of September 30th, Citigroup disclosed 238000 employees, which is 2000 fewer than the number disclosed on June 30th. The report quoted sources familiar with the matter as saying that this restructuring plan, codenamed "Project Bora Bora" internally, will result in at least 10% layoffs in several major businesses.

The stock price of Citigroup Inc. (C) rose 0.3% before trading on Monday, after CNBC TV reported that as part of CEO Jane Fraser's previously announced restructuring plan, the bank will lay off at least 10% of its workforce in some departments.
As of September 30th, Citigroup disclosed 238000 employees, which is 2000 fewer than the number disclosed on June 30th. The report quoted sources familiar with the matter as saying that this restructuring plan, codenamed "Project Bora Bora" internally, will result in at least 10% layoffs in several major businesses.