Finance

Citigroup’s 10-week internship program is going virtual for the second year in a row as Wall Street prepares for another summer of remote work

  • Citigroup’s 10-week summer internship program will be virtual this year, the bank said in a memo.
  • Internships worldwide will begin either June 7 or June 21, a Citigroup spokesperson said.
  • Other Wall Street firms are grappling with a mix of in-office and virtual internship plans.
  • See more stories on Insider’s business page.

Citigroup told incoming interns across its business lines globally to prepare for their summer internships to be virtual this year, according to a memo the firm sent on March 22.

The memo said that the firm was keeping close watch on the status of vaccination campaigns and safety conditions related to the coronavirus pandemic, and in order to prioritize employees’ well-being, had decided to conduct a second summer of virtual internships.

A spokesperson for Citigroup confirmed the memo to Insider and said that the firm’s summer internships based in North America will begin on June 7. Interns in other regions will begin their programs on June 21.

In recent weeks, other banks including Goldman Sachs, Morgan Stanley, and Credit Suisse have begun to announce their plans. Some firms are going fully virtual, like Wells Fargo‘s corporate and investment-banking internships, while others are hoping to offer a hybrid program the potentially includes some in-person work, if circumstances allow.

Insider recently rounded up the internship plans at multiple banks and hedge funds. All the latest details are available here.

Citigroup also made news on Tuesday when chief executive Jane Fraser announced that the firm was putting into place measures to curtail video meetings on Zoom on Fridays and asked employees to minimize the number of meetings they were scheduling outside of normal working hours.

The news of that announcement was first reported by Financial News, which viewed a company memo sent by Fraser.

The announcement came on the heels of new revelations highlighting the grueling nature of remote work during the pandemic for junior employees, including two presentations made by beleaguered analysts at Goldman Sachs over the past year.

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