US bank Citi has warned that it could shed half of its 20,000 tech and ops staff in the next five years due to the rise of robotics and automation.
The prediction was made by the president and chief executive of the bank's institutional clients group, Jamie Forese, who was interviewed by the Financial Times (FT).
The 20,000 operational staff account for more than 40% of the bank's total employees and are "most fertile for machine processing" according to Forese.
He is not the first to forecast mass job losses as a result of automation. Deutsche Bank boss John Cryan issued a similar warning in 2017 ...
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