As part of an expansive global restructuring initiative, Citigroup Inc. (NYSE:C) is set to eliminate around 3,500 technology roles in mainland China. The move is scheduled for completion by early ...

Citigroup said Thursday it plans to cut around 3,500 technology positions in China, in the latest move by a major U.S. bank aimed at streamlining global operations and reduce costs. The reduction ...

Citi is cutting up to 200 information technology (IT) contractor roles in China, two people familiar told Reuters last month, as the bank looks to hire its own staff globally for such operations ...

The results come after a first half where Citigroup’s stock outperformed the broader market and several of its universal bank ...

The staff are employed by Citigroup Services and Technology China, a wholly-owned China unit Citi established in 2002, which has around 3,000 employees in total, according to the sources.

The layoffs in China come as Citi continues to work through a broader plan announced January last year, to reduce 10% of its workforce, or about 20,000 employees globally.