Citigroup’s CEO, Jane Fraser, asserted that the bank’s significant reorganization has gained strong support from top employees, emphasizing there’s “no room for bystanders” in the institution’s most extensive overhaul in nearly two decades. Fraser highlighted the clear case for change and the swift backing from high-performing individuals. The bank plans to provide investors with details on estimated savings from the restructuring in the fourth quarter. Discussions about layoffs have already begun, with compliance and risk management support staff considered most vulnerable. Regarding the economy, Fraser anticipates a November interest rate hike by the Federal Reserve but expresses hope for avoiding further increases. Despite some slowing in consumer spending, she envisions a manageable recession if it occurs.