NEW YORK: Citigroup will strip out a layer of management and cut jobs in a sweeping reorganisation that will give CEO Jane Fraser more direct control as she seeks to simplify the Wall Street giant and boost its stock. The heads of the bank's five divisions will report directly to the CEO, and the bank will
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Citigroup is preparing for a wave of job cuts as Chief Executive Officer Jane Fraser initiates the biggest restructuring of the Wall Street giant in two decades, part of her effort to reverse a years-long slump in the stock price.