Top
image: REUTERS/Brendan McDermid

Citigroup could shed as much as half of its 20,000 tech and operations staff due to automation

June 12, 2018

Via: CNBC

Citigroup’s investment banking business could shed as much as half of its 20,000 technology and operations staff in the next five years due to automation, the Financial Times reported on Monday.

Operational positions were the “most fertile for machine processing,” the FT reported, citing Jamie Forese, chief executive officer of the bank’s institutional clients group.

“We’ve got 20,000 operational roles. Over the next five years could you make it 10,000?” Forese was quoted as saying in the FT article.

Read More on CNBC