From Yahoo Finance: 2025-06-04 22:37:00

Citigroup Inc is cutting 3,500 jobs at its technology centres in China to streamline global tech operations and enhance risk management. The reduction will be completed by the fourth quarter this year, with most affected roles being full-time. Some jobs will be relocated to other Citi technology centres.

Citi previously announced plans to reduce reliance on IT contractors and hire more employees after regulatory issues. The bank is also reducing its workforce in the US, Indonesia, the Philippines, and Poland. The China technology unit supports Citi’s global businesses and is expanding to include a securities unit.

Citi is committed to its clients in China and plans to establish a wholly owned securities and futures company in the country. The bank will maintain around 2,000 staff in China after the job cuts, including several hundred in the tech unit. This move is part of Citi’s global restructuring plan to improve operational efficiency.



Read more at Yahoo Finance: Citi to cut 3,500 tech jobs in China in global revamp