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Citigroup Cuts Contractors, Boosts Internal IT Staff to 50,000

3/14/2025

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Summary

Story summary

Citigroup will decrease IT contractors from 50% to 20% and hire 2,000 internal IT staff, reaching 50,000 by 2025.
This strategy addresses regulatory scrutiny and past penalties, including a $136 million fine for data governance issues.
The bank plans to reduce its external supplier network from 144 to 50, prioritizing high-cost U.S. locations.
Citigroup seeks to improve data governance and operational security in response to regulatory challenges.

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Story summary

Citigroup will decrease IT contractors from 50% to 20% and hire 2,000 internal IT staff, reaching 50,000 by 2025.
This strategy addresses regulatory scrutiny and past penalties, including a $136 million fine for data governance issues.
The bank plans to reduce its external supplier network from 144 to 50, prioritizing high-cost U.S. locations.
Citigroup seeks to improve data governance and operational security in response to regulatory challenges.