Exclusive: Citigroup plans to slash IT contractors, hire staff to improve controls

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Exclusive: Citigroup plans to slash IT contractors, hire staff to improve controls

//business-finance.news-articles.net/content/202 .. -contractors-hire-staff-to-improve-controls.html

Published in Business and Finance on Thursday, March 13th 2025 at 6:40 GMT by Reuters

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source
🞛 This publication contains potentially derogatory content such as foul language or violent themes

Citigroup Inc. is planning to significantly reduce its reliance on external IT contractors by hiring more full-time staff, aiming to enhance control over its technology operations. This strategic shift, announced on March 13, 2025, is part of a broader initiative to improve efficiency and manage costs more effectively. The bank has been under scrutiny for its technology management, especially after a series of operational issues and regulatory fines. By transitioning to in-house staff, Citigroup seeks to streamline its IT processes, reduce expenses associated with contractor fees, and ensure better alignment with the company's long-term goals. This move also reflects a broader industry trend towards reducing external dependencies in critical operational areas.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/citigroup-plans-slash-it-contractors-hire-staff-improve-controls-2025-03-13/ ]