Citigroup Inc (NYSE:C) will cut around 3,500 jobs at its technology hubs in Shanghai and Dalian as part of a broader effort to streamline global operations and strengthen risk and data management.
The reductions, affecting mainly full-time roles, are expected to be completed by early Q4 2025.
Some positions will be relocated to other tech centres, though the bank has not disclosed where.
The move follows earlier cuts to 200 IT contractor roles in China and is part of Citi’s wider strategy to reduce reliance on third-party tech support after facing regulatory scrutiny.
Despite the cuts, Citi said it remains committed to its China business, where it is working to establish a wholly owned securities and futures firm.