Citigroup Inc. is a global diversified financial services holding company offering a broad range of banking, credit, investment, and wealth management services to consumers, corporations, governments and institutions. It operates through Consumer Banking and Institutional Clients Group segments across more than 100 countries.
Citigroup (Citi) laid off 3,500 employees in technology roles in mainland China in 2025 as part of a broader effort to streamline operations and cut costs under CEO Jane Fraser. The cuts mainly affected the information technology services unit, including staff at Citi Solution Centers in Shanghai and Dalian, with some roles to be moved to other Citi technology centers. The layoffs are part of a wider restructuring announced under Fraser to improve profitability and follow an earlier plan to reduce about 10% of the global workforce (roughly 20,000 employees). Company statements framed the moves as aligning operations amid AI-driven changes in job functions and a drive to augment human workers with AI while acknowledging job dislocations will occur.
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