Citigroup has announced plans to cut approximately 3,500 jobs at its technology centres in Shanghai and Dalian, China, as part of a sweeping effort to streamline its global tech operations and strengthen risk and data management.
The job reduction, primarily affecting full-time roles, is expected to be completed by the beginning of the fourth quarter of 2025. The move comes as part of Citi’s broader restructuring strategy aimed at simplifying operations, reducing costs, and addressing regulatory concerns related to data governance.
While the bank indicated that some of the eliminated roles will be relocated to other Citi technology hubs, it did not disclose how many positions would be transferred or to which locations. The cuts follow a separate round of reductions last month, when the bank reportedly terminated around 200 IT contractor positions in China.
The service and technology unit in China plays a crucial role in supporting Citi’s global financial technology and operations. However, the bank has been steadily scaling back its tech workforce across various geographies—including the United States, Indonesia, the Philippines, and Poland.
Despite the workforce reduction, Citigroup reaffirmed its commitment to its business operations in China. The bank is actively working toward establishing a wholly owned securities and futures company in the country to support its institutional and international client base.
Following the layoffs, Citi will retain about 2,000 employees in China, including a few hundred in its technology division, according to a source familiar with the matter, news report from Reuters said.
