Archive · 5 Jun 2025
Citi to Cut China Tech Jobs as Part of Global Plan
Citi, a big bank, is cutting about 3,500 tech jobs in China.
This is part of a worldwide plan to make the bank simpler and more profitable.
The job cuts will happen in Shanghai and Dalian by the end of the year.
Citi is still committed to helping businesses in China.
The bank is also working on starting a new investment business in China, but it's facing some delays due to regulations.
They are also keeping their local banking business in China and will continue to invest in it.
Citigroup is cutting approximately 3,500 tech jobs in China.
The job cuts are part of a global simplification strategy.
Reductions will occur at Shanghai and Dalian centers.
Citibank (China) Co. is unaffected and continues to receive investment.
Citi is pursuing a securities and futures company in China, facing regulatory hurdles.
- Who
- Citigroup Inc.
- What
- Cutting 3,500 tech jobs in China.
- When
- Expected to be completed by the start of the fourth quarter.
- Where
- Shanghai and Dalian, China.
- Why
- Part of global simplification efforts to streamline operations and lift profitability.
- Company
- Citigroup Inc.
- Job Cuts
- Approximately 3,500 tech jobs
- Locations
- Shanghai and Dalian, China
- Completion Date
- By start of Q4
- Reason
- Global simplification efforts to lift profitability
- Affected Unit
- Technology employee workforce
- Unaffected Unit
- Citibank (China) Co.