Citi Group has warned its workers in great Britain layoffs are likely, as the bank is undergoing a major reorganization, according to a note published by Reutersa move that could affect hundreds of positions in the country.

Bank, which has several 16 thousand employees inside it great Britainsaid it was entering the second phase of its plan to rationalize its banking structure and, as part of this, it would launch a consultation process so that employee can give his opinion.

“We anticipate that the review may lead to role reductions in some parts of the business and changes in others. In some cases, some colleagues may be at risk of being laid off,” he said. James BardickCiti Country Officer in the UK, to employees in a note seen by Reuters.

The bank did not notify employees based in Britain And Northern Ireland How many jobs will be eliminated.

“As we take the next steps necessary to align our organizational model with our strategy, we are committed to complying with all legal and regulatory requirements and, most importantly, supporting our colleagues during this change,” a Citi spokesperson said in a statement. statement sent to Reuters.

Bankers have been preparing for changes after the CEO Jane Fraser said earlier this month that Citi Group, the third largest bank in the United States, will remove layers of management and reduce employment. The shakeup impacts its five divisions, which report directly to the CEO, and the elimination of regional positions outside North America.

“Change is not easy, and we recognize the uncertainty that many of our colleagues are experiencing,” he added. Bardick. “We moved quickly to provide clarity while following our processes and providing necessary input from team leaders”

It is not known what areas the bank operates in great Britain will be laid off.

Depending on local regulations, the organization must consult with employee when there may be more than 20 layoffs.

Citi Group has announced that in the coming weeks he will meet with London Consultation Forum (LCF) within the framework of a collective consultation process.

This will also provide workers belfast the possibility of electing representatives as part of the consultation process.

He bank stated that it would consult individually with employees at risk of being fired.

Fraser He described the changes as Citi’s biggest reorganization in nearly two decades, in a bid to gain more direct control over its units and boost profits and stock prices.

In the last days, Citi has started talks in America with employees about possible layoffsamong them are support staff in the areas of compliance and risk management, as reported Reuters.

Technology staff working in overlapping roles are also at risk of being laid off, he reported. Reuters.

Kristine BradenCEO of Citibank Europeis leaving the company after 25 years as part of an organizational change, according to an internal memo seen by Reuters.

MRA