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Citigroup plans to slash IT contractors, hire staff to improve controls (www.reuters.com)

submitted 6 days ago by [email protected] to c/[email protected]

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Archive: https://archive.is/2025.03.13-104103/https://www.reuters.com/business/finance/citigroup-plans-slash-it-contractors-hire-staff-improve-controls-2025-03-13/

LONDON/NEW YORK, March 13 (Reuters) - Citigroup (C.N), opens new tab plans to dramatically reduce its reliance on information technology 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. The briefing did not give a precise time horizon for the changes.

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[–] [email protected] 1 points 6 days ago* (last edited 6 days ago)

I’m pretty sure they will just switch from contractors to full time employees for regulatory reasons while keeping chunk of their operations in India, Poland and Philippines as it is now.

Data governance is a joke in most companies (one of things I do is being data steward in a bank) and I don’t think they’re going to change it this way.