US EditionCiti plans to cut 3,500 tech roles in China as global banks cut costs
- On June 5, 2025, Citigroup announced plans to eliminate approximately 3,500 technology positions at its China-based operations located in Shanghai and Dalian, with the reductions expected to be finalized by the beginning of the fourth quarter this year.
- The cuts are part of Citi's worldwide initiative to streamline and downsize its technology operations, with the goal of enhancing oversight and strengthening data governance following regulatory sanctions for insufficient controls.
- Some of the eliminated roles will be relocated to other Citi technology centers, though the bank has not disclosed exact numbers or destinations for these moves.
- Reuters reported an additional 200 IT contractor roles in China are being cut, aligning with Citi's March plan to reduce reliance on contractors while planning to hire thousands of IT employees overall.
- This prioritization of simplifying operations and reshaping IT staffing suggests Citi is responding to compliance challenges and restructuring its global technology workforce.
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Total News Sources32
Leaning Left3Leaning Right8Center6Last UpdatedBias Distribution47% Right
Bias Distribution
- 47% of the sources lean Right
47% Right
L 18%
C 35%
R 47%
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