Citi to cut 5K jobs citing tech initiatives - Not good for the pro-AI crowd. // ‘Citi’s technology transformation plans, which Mason said are in the execution stage, are driving efforts to reduce headcount…. Over time, “we will no longer need the same level of people that we have at this particular phase,” Mason said. “We’re reducing people even further … as we use that technology to automate a bunch of activities that we have to do manually today…. The bank is in the process of retiring legacy tech platforms. It’s also moving its wholesale credit risk platforms to a common underwriting process, and will no longer need thousands of people over time because of a standardized approach, Mason said.'