The statement is all over in the news links. Which teams do they mean by Financial Reporting?
6 replies (most recent on top)
The third-largest U.S. lender will also eliminate co-heads of divisions and regional roles, cut 50% of internal financial management reporting and centralize decision making, it said in October.
Support staff in compliance and risk management, and technology staff working on overlapping functions are at risk of being laid off, Reuters reported in September.
Source:
https://www.reuters.com/business/finance/citigroup-employees-expect-management-reshuffle-layoffs-monday-sources-2023-11-17
Guess we’ll be able to unravel these mysteries tomorrow.
What about all the groups who are tied to “Consent order” deliverables? Lots of reporting, data, and other internally facing teams
It’s not team. It’s refers to the management reports prepared. The regional reports are all eliminated and so country reports as well. But of course, people who used to work on these reports will likely be affected too
Looks like AI is taking over jobs. More and more layoffs in all sectors will start to happen in 2024 as AI replaces human jobs.
Yah I was going to ask the same.. in the news it said reported in October…also said will reduce co-heads lol we still have the co-cio
I kind feel Thai is talking about the chief staff and some PMO functions