Citigroup plans to cut approximately 20,000 jobs, equivalent to about 10% of its global workforce, within the next two years as part of a broader restructuring initiative led by CEO Jane Fraser. This move is aimed at streamlining operations and reducing layers of bureaucracy within the bank. Fraser, who assumed leadership in 2021, envisions 2024 […]
One of the world’s largest shipping companies, AP Moller-Maersk, has announced plans to cut an additional 3,500 jobs, following a previous reduction of 6,500 positions earlier in the year. The decision comes as a response to diminished demand and reduced freight rates. Maersk experienced a significant decline in profits, plummeting by 92% during the latest […]

