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Citigroup has granted most of its employees the option to work remotely for the final two weeks of December.
Staffers can work from anywhere in the country from today (Monday, December 18) to Friday, December 29.
The move comes in response to growing employee concerns amid CEO Jane Fraser's corporate reorganization.
Read More: Citigroup Starts Extensive Layoffs Targeting Senior Employees
This policy applies to hybrid workers who constitute the bulk of the bank’s 240,000 employees.
The ongoing restructuring has already led to executive departures and the closure of Citigroup's municipal bond business.
Employees who fear layoffs view this year-end remote work option differently from the previous year.
CEO Jane Fraser aims to complete the review of Citigroup, the third-largest US bank by assets, by the end of March 2023.
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Internally referred to as "Bora Bora," the project has already led to the departure of executives and the closure of Citigroup's municipal bond business.
Citigroup has announced plans to reveal severance expenses associated with the project in January and April.
In a staff memo announcing the remote work policy, Citigroup's human resources chief said: “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.
“We hope that you will enjoy a break from commuting while continuing to stay focused on closing out the year.”
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