Citigroup informed most of its workers that they’ll work remotely the ultimate two weeks of December, CNBC has realized.
Employees can log in remotely from wherever of their nation of employment from Monday to Dec. 29, a Friday, making this week the final in-person expertise this 12 months for a lot of staffers, in line with folks with data of the scenario.
The coverage applies to hybrid employees, which make up nearly all of the financial institution’s 240,000 workers, mentioned the folks, who declined to be recognized.
Not like final 12 months, when the perk was launched, workers are on edge over CEO Jane Fraser‘s sweeping company reorganization, and a few expressed concern over whether or not their jobs will nonetheless exist subsequent 12 months. Citigroup has mentioned that Fraser’s overview of the third-biggest U.S. financial institution by belongings will probably be full by the top of March.
The mission, identified internally by its code title Bora Bora, has already resulted in government departures and the shuttering of the agency’s municipal bond enterprise. Citigroup will disclose severance bills tied to the mission in January and once more in April, the financial institution has mentioned.
“This past year has been one of significant change across the firm, and as we approach the end of 2023, we look forward to this special time of year,” Citigroup’s human sources chief mentioned final week in a employees memo saying the distant coverage.
“We hope that you will enjoy a break from commuting while continuing to stay focused on closing out the year,” the HR chief mentioned.
Learn extra: Citigroup considers deep job cuts for CEO Jane Fraser’s overhaul, called ‘Project Bora Bora’
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