As Citigroup embarks on a sweeping reorganization, support staff in compliance and risk management are among the most likely to lose their jobs
– Technology staff working on overlapping functions are also at risk of being laid off, one of the people said.
Citi managers are already convening discussions with employees about potential layoffs, according to the sources,
who declined to be identified discussing personnel matters.
– Citigroup has invested heavily in recent years in technology systems to increase risk controls and compliance to address the consent order, one of the sources said.
– But the company still employs many people with overlapping functions and redundant technology systems, one of the sources said.
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