Citigroup plans to cut £1.5bn from its IT budget, reports CIO magazine.
Last month, the loss-making bank said it planned to cut thousands of jobs across the board, with many of them in IT. It has now put a figure on the amount it plans to save from its IT budget.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
CIO reports the £1.5bn IT cost cuts are planned over three years and represent a fifth of the £7.5bn Citigroup plans to make across the business.
Don Callahan, Citigroup's chief administrative officer, said the firm would bring in service companies to help make the cuts.