06:58 AM EST, 12/06/2024 (MT Newswires) -- Citigroup ( C ) has promoted 344 executives across 29 countries to managing director, its highest officer title, multiple media reports said on Thursday, citing an employee memo.

The promotions come during Citi's ongoing reorganization, which is aimed at simplifying its structure and reducing 20,000 positions globally by 2026, Reuters reported.

Citigroup ( C ) did not immediately respond to MT Newswires' request for comment