Jane Fraser – The News Desk

McKinsey Shrinks New Partner Class by Roughly 35%

7Dec

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World

McKinsey Shrinks New Partner Class by Roughly 35%

Updated Dec. 6, 2023 6:51 pm ETIt got a lot harder to make it to the top of McKinsey & Co.The closely held firm named its new class of partners, and the group is roughly a third smaller than last year, according to people familiar with the matter, in the latest sign that economic conditions have dented demand for high-price consultants.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Citigroup Makes Fresh Round of Layoffs in Jane Fraser’s Restructuring Plan

21Nov

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Money

Citigroup Makes Fresh Round of Layoffs in Jane Fraser’s Restructuring Plan

Updated Nov. 20, 2023 11:52 am ETCitigroup began making an extensive round of layoffs and organizational changes, part of Chief Executive Jane Fraser’s efforts to streamline the sprawling global bank.The bank didn’t say how many employees were due to be cut on Monday and it hasn’t set a target for total layoffs. Instead, Fraser in September ordered her subordinates to remake their teams for a new alignment she devised and then cut positions that no longer were needed.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Citigroup Moving On to Next Phase of Reorganization

20Nov

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World

Citigroup Moving On to Next Phase of Reorganization

Citigroup is moving ahead with the next layer of changes across its businesses and functions, a move to reorganize it said would involve difficult and consequential decisions.The bank didn’t address layoffs in a brief statement released on its website, but said it had shared the next phases of organizational changes with its colleagues.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8