Citigroup slashes 300 mgmt positions as it becomes latest major firm to cut costs as labor market cools

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Citigroup is preparing to join a plethora of companies that are taking extra dramatic measures to save their bottom lines amid financial concerns. According to the company, 300 of its senior management positions are now no more.

The news was first tracked by Layoffs.fyi, in total tech companies slashed more than 244,000 in 2023 alone – more than all of the whole of the pandemic.