Citi (C)group is cutting the number of year-end promotions it typically awards as the company seeks to keep costs down amid a long-term restructuring that will involve shrinking its headcount, Stephen Gandel of The Financial Times reports. Managers have been told as many as 2,000 employees could receive a bump in their pay and title in the next month, which is down from 8,000 in previous years, four people familiar with the discussions told the Times.
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