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Citigroup Plans To Slash IT Contractors, Hire Staff To Improve Controls
An anonymous reader shares a report: Citigroup plans to dramatically reduce its reliance on IT contractors and hire thousands of employees for IT as the lender grapples with regulatory punishments over data governance and deficient controls. Citigroup's head of technology Tim Ryan told staff in rece...
An anonymous reader shares a report: Citigroup plans to dramatically reduce its reliance on IT contractors and hire thousands of employees for IT as the lender grapples with regulatory punishments over data governance and deficient controls. Citigroup's head of technology Tim Ryan told staff in recent weeks that the bank aims to cut back external contractors to 20% of those working in IT from the current 50%, according to an internal presentation to employees seen by Reuters. As part of the overhaul, Citi will replenish the ranks by hiring more staff, and aims to have 50,000 employees in technology, up from 48,000 in 2024, the presentation showed.
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