“While all these roles are to be reviewed, in some instances roles will remain the same,” said UK chief executive James Bardrick in a memo to staff. “In other instances, roles will change, or new roles will be created. Roles that do not fit our new structure will be eliminated. While colleagues can apply for other open roles within Citi, unfortunately, some colleagues may be leaving the firm.

“I know change is difficult. We are moving at pace to give you as much clarity as quickly as we can, and we shall continue to provide you with updates,” he added in the 4 October memo.

Citigroup has around 16,500 employees in the UK across offices in London and a large technology and operations centre in Belfast. The US bank flagged to UK employees that some job cuts were likely in September, but did not specify numbers. The 250 roles under review will largely affect managing directors and some directors, according to a person familiar with the matter.

Citigroup also cut 35 investment banking jobs in the UK, Financial News revealed, but these were not related to the changes that Fraser unveiled on 13 September.

The bank is stripping out layers of management, simplifying its business and rearranging the organisation around five key business lines. It is also disbanding its institutional clients group, its largest division, which houses its investment bank.

READ Citigroup strips out management layers, prepares for job cuts in Jane Fraser shake-up

Citi has started its discussions with its London Consultation Forum, Bardrick said in the note to employees. The 250 roles will focus on the next layer down from its executive management team’s direct reports, he said. While Citi employees are invited to reapply for jobs, some positions will still be eliminated.

“We are updating colleagues on our next steps to align our structure with our strategy, and consulting with the London Consultation Forum about roles currently under review,” a Citigroup spokesperson said in a statement. “Some of these roles may change, while others will remain the same.”

Fraser is pushing through the most significant changes at Citi in over two decades. It will eliminate regional chief executive roles, and is instead rearranging its business into North America and International. Within the international region, Citi’s operations will be led by so-called cluster chiefs, which includes Europe and Asia, and chief country officers will also remain in place.

The final structure of the overhaul is expected to be unveiled to staff by November.

“We have taken hard, consequential, tough decisions here,” Fraser told an industry conference on 13 September. “They are not going to be universally popular within our bank. It’s going to make some of our people very uncomfortable. I am absolutely fine with that. I am confident that our strongest performers will be fully supportive of these moves.”

This article has been amended to reflect that not all 250 jobs will be eliminated.

To contact the author of this story with feedback or news, email Paul Clarke