At its peak, the firm operated 70 data centers. Citigroup is still planning to return about 5% of employees to offices in much of the U.S. Northeast, including New York, the person said.“We have always said our plans to return to the office would prioritize the health and safety of our colleagues and be centered around data not dates,” Citigroup said in an emailed statement. "Banks have long maintained cavernous redundancy sites in "That level of redundancy has always been expensive—a space where you have a fully configured For some firms, such as Morgan Stanley, redundancy sites double as office space for other units, which could limit their ability to do away with the space longer term. In 2015, the bank began renovating its headquarters in Manhattan's pricey Tribeca neighborhood, and has been moving workers from midtown Manhattan and Long Island City into the building.It's also shuttered data centers as it moves to cloud technology. By using our site, you acknowledge that you have read and understand our We do not guarantee individual replies due to extremely high volume of correspondence. Citigroup has shored up its defences against soured loans as a “deterioration” in the economic outlook caused the US lender to reassess prospects for some of its commercial clients. "For Dunn's team of rates traders, working remotely meant quickly establishing connections to the government agencies that would let them bid in U.S. Treasury auctions from home.Heather Felts, a manager at Citigroup's sprawling call center in Florence, Kentucky, was similarly surprised in March. Citigroup Global Markets Holdings Inc. announced today that it will accelerate at its option, and in full, the two series of exchange-traded notes listed in the table below . This site uses cookies to assist with navigation, analyse your use of our services, and provide content from third parties. "All large organizations that have designated disaster-recovery sites are thinking, Do we need them, or can we have less?" Mike Whitaker, the bank's operations and technology chief, told the CEO that 35,000 was the bank's previous record. Your email address is used Phys.org internet news portal provides the latest news on scienceMedical Xpress covers all medical research advances and health news Science X Network offers the most comprehensive sci-tech news coverage on the web

ETN... | March 19, 2020 Within weeks, 95% of Citigroup's trading floor was working remotely, a feat bank officials had never thought possible.
... 2020 / 7:47 PM / 5 months ago. Apart from any fair dealing for the purpose of private study or research, no So he got the green light to boost that number—and fast. part may be reproduced without the written permission. Bank will still bring back some workers in the U.S. Northeast

Other lenders like the flexibility the sites offer in the event of a natural disaster such as flooding or fire.Citigroup has long sought to reduce its office footprint. The scramble has changed not only how the bank is getting through this unprecedented crisis, but also how one of the world's biggest companies is thinking about post-pandemic life.It all started with a simple question from Chief Executive Officer Mike Corbat as the extent of the virus's reach became clear. "My biggest fear, if you'd asked me in February, was that the remote log-in would be slow and our ability to get quotes and respond to things would somehow see microsecond delays," said Deirdre Dunn, who co-leads the firm's rates business. “Our people will work from home until they On Wednesday, New York Mayor Bill de Blasio postponed a planned reopening of ©2020 Bloomberg NewsYour feedback will go directly to Tech Xplore editors.Thank you for taking your time to send in your valued opinion to Science X editors. "We have a manual now," Felts said. You can be assured our editors closely monitor every feedback sent and will take appropriate actions. Employees “will largely decide for themselves whether they want to stay at home, how they “I am in awe of how our people became a virtual firm within days of learning about Covid,” Handler said in a phone interview Monday.
"We know how to do it if this would ever happen again. June 3, 2020 "We all had our handsets on, biting our fingernails down to the quick saying, 'Please let this work, please let this work,'" Felts said in an interview. Once word was sent out, executives began shipping the equipment traders would need. "We obviously realized that if it came to the shores of the West, we'd need a heck of a lot more than that," Whitaker said in an interview.So he got the green light to boost that number—and fast. Whitaker's team bought up hardware and shipped more than 40,000 pieces of technology equipment to workers' homes. Whitaker's team bought up hardware and shipped more than 40,000 pieces of technology equipment to workers' homes. "We've been on what some people would describe as 'densification' in terms of reducing our square-foot footprint, not just in the U.S. but around the world," Corbat said in an interview with Bloomberg Television last week.Most of Citigroup's traders didn't think they'd be working from home until the orders came in mid-March. It's whittled that down to 10 in recent years. Science X Daily and the Weekly Email Newsletter are free features that allow you to receive your favorite sci-tech news updates in your email inbox Citigroup Inc. is pulling back on plans for returning employees to offices across the U.S. as coronavirus cases surge in many states.