How Citigroup Is Totally Changing its Offices

December 26, 2015, 5:25 PM UTC
A man walks past a Citibank branch in lower Manhattan, New York
A man walks past a Citibank branch in lower Manhattan, New York October 16, 2012. Citigroup Inc Chief Executive Vikram Pandit resigned abruptly on Tuesday, effective immediately, a shocking change at the top of the No. 3 U.S. bank just one day after a surprisingly strong quarterly earnings report. REUTERS/Carlo Allegri (UNITED STATES - Tags: BUSINESS) - RTR397EH
Photograph by Carlo Allegri — Reuters

Citigroup is making the switch to an open-plan office layout.

The third largest bank in the U.S. is renovating its space to boost communication, boost employees’ energy, and save costs, the Wall Street Journal reported. And not even CEO Michael Corbat will have a private space of his own.

Renovations to Citi’s 39-story Manhattan office will take to the open-plan layout next month, according to the newspaper, and no one will have a door. In fact, most employees won’t even get their desk and will instead move around from different workspaces to foster interaction with others, according to the bank.

Per the Journal:

The project is part of a broader effort to convert the tower in Manhattan’s Tribeca neighborhood into Citigroup’s headquarters, moving the bank’s home base from its Park Avenue location and bringing key decision makers under one roof.

“There probably is the occasional person who says, ‘I’ve spent most of my career in an office and I don’t want to change that now,’” said Corbat in an interview with the newspaper. “But weighing that against the benefits to the rest of the organization, that’s a risk we’re comfortable taking.”

He added, “You’re going to be forced to bump into people. I want people interacting around our business and ideas.”

In March, Fortune examined the pros and cons of the office layout for employees.

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