U
S banking large Citi has instructed employees that it’s reviewing round 250 jobs in London , with a plan to “eliminate” these that don’t match.
The firm mentioned that among the jobs will likely be saved, others modified or new roles created, nevertheless it warned in an inner memo that “some colleagues may be leaving the firm”.
It is an element of what’s being billed as the largest reorganisation for the banking large in many years, and is one step alongside the route that will likely be taken in London.
“Approximately 250 roles in London are being reviewed as part of this next phase, which includes the roles within the layer down from our executive management team’s direct reports,” a observe to employees from UK chief government James Bardrick mentioned.
“While all these roles are to be reviewed, in some instances roles will remain the same. 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.”
The firm will likely be reviewing the roles, and mentioned it might seek the advice of with employees if their jobs are being minimize. No job cuts have been selected but.
In a press release, Citi mentioned: “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. Some of these roles may change, while others will remain the same.”
