Citigroup told employees they can work from anywhere for the final two weeks of the year, as Chief Executive Jane Fraser bucks a trend among rivals to get office workers back to their desks full time.
Citigroup is seeing countries around the world roll into recessionary environments, with the U.S. economy on track to follow them in the second half of next year, Chief Executive Jane Fraser said.
Citigroup, in the midst of overhauling its businesses in Russia when the country went to war, has seen efforts to sell a consumer banking unit there stall and is helping some employees transfer abroad.
“Our intention is to work with all our clients, including our fossil-fuel clients, to develop credible plans and transition to net zero together,” Chief Executive Jane Fraser said.
Citigroup announced Tuesday that it plans to exit retail banking in Mexico, less than a year after Fraser said “there’s a lot to like in the franchise over the longer term.” She explains her new thinking.