Prime Highlights :
- Citi to reduce 3,500 China tech jobs in globalization restructuring
- Job reductions are included in a scheme to pool technology activities and reinforce risk controls.
Key Facts :
- Affected jobs are based in the Shanghai and Dalian Citi Solution Centres.
- Citi maintains about 2,000 staff in China, including technology personnel.
Key Background :
Citigroup Inc. has announced the elimination of approximately 3,500 full-time technology roles in China, marking a major phase of its ongoing global reorganization. The impacted positions are primarily based at the bank’s Citi Solution Centres in Shanghai and Dalian, which support its global business operations. This move is part of a broader initiative to simplify Citi’s technology structure, improve risk and data oversight, and optimize overall workforce efficiency.
The trim is a follow-up of an initial trim of 200 IT contractors in China as the bank streamlines to reduce third-party reliance and move more essential functions within. It follows as regulation over data management has tightened, particularly after U.S. regulators detected loopholes in the bank’s control mechanisms within. As it undergoes global-wide restructuring, Citi is moving to a leaner and more centralized pool of technology staff that can provide more regulatory compliance and stability in the long term.
Despite these cuts will be a significant contribution to its Chinese franchise, Citigroup reaffirms its long-term commitment to the Chinese market. The bank is building a wholly owned securities and futures business in China with aspirations to build out its franchise with institutional and corporate clients in the region. Citi underscored that the cuts are not a withdrawal from the market but a restructuring of resources to raise resilience and management.
Worldwide, the bank is aiming for a reduction of 20,000 positions by 2026 year-end, focusing on risk, compliance, and technology roles. The current workforce optimization supports CEO Jane Fraser’s broader strategy to transform Citigroup into a nimbler, more concentrated institution that can better navigate today’s complicated regulation and operations environment. As global banks face mounting cost pressures, Citi’s latest move reflects a decisive effort to modernize its tech infrastructure and reinforce accountability across markets.
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