Citigroup has warned its employees in the UK of possible layoffs as it continues to restructure its operations in the country. photo file
Citigroup has warned its employees in the UK about possible layoffs and changes to some roles as the company enters the second phase of its restructuring, according to an internal memo.
The bank said it would meet with the London Consultation Forum, which represents employees in London, from next week as part of a collective consultation process, which will allow employee representatives to share their views on the ongoing review of the company’s organizational structure.
“We anticipate that the review may lead to role reductions in some parts of the business and changes to others,” James Bardick, Citi’s UK country director, said in the memo. “In some cases, coworkers may be at risk of being fired.”
The memo said employees at risk of being laid off would be consulted individually.
The number of jobs that will be affected or what fields will be affected is not specifically stated.
Publication date: 09/22/2023
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