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Automation could thin Citigroup's investment banking unit jobs - FT


(Reuters) - Inc's business could shed as much as half of its 20,and operations staff in the next five years due to automation, reported on Monday.

Operational positions were the "most fertile for machine processing," the FT reported, citing Jamie Forese, of the bank's group.

"We've got 20,000 operational roles. Over the next five years could you make it 10,000?" Forese was quoted as saying in the FT article.

Under tremendous pressure from investors to boost profits, but unable to grow revenue much, banks have increasingly turned to technology to reduce costs.

(Reporting by in Bengaluru; Editing by Maju Samuel)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 12 2018. 04:29 IST