Citigroup Allows Employees to Work Remotely for the Final Two Weeks of December
Citigroup has informed its employees that they have the option to work remotely during the last two weeks of December, according to sources familiar with the matter. This decision allows workers to log in from anywhere within their country of employment from Monday to December 29th, making this week the final in-person experience for many staff members.
The remote work policy applies to the majority of Citigroup’s 240,000 employees, who are classified as hybrid workers. This move comes in contrast to last year when the perk was introduced. However, employees are currently concerned about CEO Jane Fraser’s corporate reorganization and the potential impact on their job security. Citigroup has stated that Fraser’s review of the bank’s operations will be completed by the end of March.
The corporate reorganization, internally known as “Project Bora Bora,” has already led to executive departures and the closure of Citigroup’s municipal bond business. The bank plans to disclose severance expenses related to the project in January and again in April.
In a staff memo announcing the remote work policy, Citigroup’s human resources chief acknowledged the significant changes that have occurred within the firm over the past year. The memo expressed hopes that employees would enjoy a break from commuting while remaining focused on closing out the year.
