By Tatiana Bautzer, Saeed Azhar and Lananh Nguyen NEW YORK (Reuters) - As Citigroup embarks on a sweeping reorganization, support staff in compliance ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSNEW YORK - As Citigroup embarks on a sweeping reorganization, support staff in compliance and risk management are among the most likely to lose their jobs, according to sources familiar with the situation.
Executives overseeing revenue-producing businesses held calls on Wednesday to explain the changes and reassure their teams that the overhaul would reduce bureaucracy and prioritize profit-making activities, one source said. 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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