Location: China.
Department affected: Tech.
Based on news reporting.
Citibank is set to cut 3,500 tech roles in China as part of a strategic response to the challenges posed by a slowing economy. This decision reflects the company's efforts to streamline operations and adapt to current market conditions. The layoffs are part of a broader trend affecting the financial sector, but specific details regarding the timeline for these cuts have not been disclosed. The move highlights the ongoing pressures faced by Citibank in maintaining operational efficiency amidst economic uncertainties.
Citibank cut 3,500 jobs affecting its Tech team.
That is roughly 1.7% of the 210,000 people Citibank employs.
LayoffTalk has tracked 20 layoff events at Citibank since August 2023, affecting a combined 7,720 employees.
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Estimated figure based on news reporting. Not yet confirmed by Citibank.
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