As Citigroup seeks to right its course, it has tried many fixes – many involving the pruning or restructuring of its organizational charts. But the banking giant apparently isn’t satisfied.
Now it’s asking its bankers and traders to stop using color copying and to start printing internal presentations on both sides of the page.
That’s according to a memorandum issued earlier this month by John Havens, the head of Citi’s institutional clients group, in which he urges employees to be much more frugal in their expenses. (Read the full memo after the jump.)
As Citi tries to deal with tens of billions of dollars in losses over the past year, it has resorted to a variety of fixes, including massive waves of layoffs and write-downs. Now the firm appears to be boring down on the workaday costs of running a giant financial-services firm, the last refuge of many cash-strapped organizations.